Big bank oversight to stay with Fed

[AmericasLastHope]

Banks with more than $100bn of assets will be overseen by the US Federal Reserve in a regulatory reform plan that represents a partial victory for the central bank after months of attacks in Congress.

Chris Dodd, the Senate banking committee chairman, had proposed hiving off all bank supervision to a single regulator but is set to propose this week that the 23 largest institutions stay under the Fed’s oversight, according to people familiar with the plans.

http://www.ft.com/cms/s/0/0f1b6822-2a2c-11df-b940-00144feabdc0.html

[HOLLYWOOD]

Yes this is Lame Duck US Senator Judd Gregg that is bought and paid for by Wall Street/Banks... watch Gregg get his 7 figure salary once he leaves the Senate next January... just like Phil Gramm (R-TX).

Sen. Chris Dodd (D-CT) was blowing smoke with his SEC will be in charge of consumer protection...

Sen. Bob Corker, R-Tenn., offered the proposal after Dodd proposed over the weekend to set up a new division to write consumer protection rules for mortgages and other financial products within the Treasury Department.

But is was Turncoat Sen Judd Gregg that empowered the Federal Reverse with even more Control and Power. Of course lame Duck #2, Chris Dodd is pushing Gregg's Bill.

It's all smoke and mirrors and political window dressing to pick someone who will be long gone from the Senate to blame.