Paulson to call for expansion of regulatory powers

-Wall Street Journal

WASHINGTON -- U.S. Treasury Secretary Henry Paulson will call Wednesday for an expansion of regulatory powers to ensure that the failure of a nonbank financial institution doesn't threaten the whole financial system...

His comments mark a further evolution of the Treasury's plan for a complete overhaul of the U.S. regulatory system. A blueprint released in March provided broad recommendations for realigning the patchwork system of supervisors to be more effective, with the Federal Reserve seen taking on the role of market stability supercop.

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