No, this is not a joke....
Admin wants Fed to oversee systemic risk: sources | Reuters
By
Kevin Drawbaugh and
Rachelle Younglai
WASHINGTON (Reuters) - The Obama administration is expected to propose legislation by June calling for the U.S. Federal Reserve to play a central role in regulating systemic risk in the economy, trade association sources said on Friday.
Now that the U.S. bank stress tests are over, the administration is refocusing on a drive to tighten regulation of banks and markets to prevent another financial crisis like the one that is currently ravaging economies worldwide.
cont'd at link
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