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 Fed Scrambles to Stave Off Oversight

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Fed Scrambles to Stave Off Oversight Vide
PostSubject: Fed Scrambles to Stave Off Oversight   Fed Scrambles to Stave Off Oversight Icon_minitimeWed May 05, 2010 10:16 pm
Federal Reserve officials are becoming increasingly concerned that challenges to their authority and independence are gaining momentum in the Senate as it considers financial overhaul legislation.

Presidents of four regional Fed banks went to Capitol Hill Wednesday to personally make their case against several proposals in the legislation, including one that would strip them of authority to oversee thousands of small, state-chartered banks and one that would make the president of the Federal Reserve Bank of New York a presidential appointee.

"Attempts to politicize the Fed by making the political appointment process reach ever further down in its governance structure ...

http://online.wsj.com/article/SB10001424052748703322204575226730250189638.html?mod=WSJ_article_LatestHeadlines
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