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Geithner Back Before the Firing Squad

Treasury Secretary Timothy Geithner is back before the House Financial Services committee today to argue the case for greater federal regulatory power over non-bank financial institutions. In many members' minds, though, he's still on the line for the AIG bonus flap and for allowing bad financial actors to take too big a role in shaping bailout policy.

The outline of the Treasury's new regulatory reform framework is here. We'll keep a close eye on his testimony.


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Brad DeLong:

each time a particular case comes along somehow I trust the Federal Reserve and the Treasury more than I trust Congress, and wish them untrammeled discretion:
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Firing squad? Well, since Dems control House by dozens and dozens of votes, and since their leader says he needs the guy, then uh, maybe...

Anyhow, what's the metaphor? Geithner's wearing a vest, or he don't need one?

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