Article: A Fed call to rein in Wall Street Bear Stearns rescue defended at Senate

Michael M. Grynbaum The New York Times Media Group
International Herald Tribune
04-04-2008
A Fed call to rein in Wall Street Bear Stearns rescue defended at Senate
Byline: Michael M. Grynbaum The New York Times Media Group
Edition: 4
Section: FINANCE/BUSINESS

A top official at the U.S. Federal Reserve told a Senate committee Thursday that Washington must increase its regulation of Wall Street to prevent other banks from needing rescues similar to the one for Bear Stearns.

Timothy Geithner, the president of the Federal Reserve Bank of New York, called for a simpler, more stringent supervision of financial institutions and urged banks to put in place more fail- safe measures to prevent the ...

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