Geithner Seeks Broad Power To Seize Firms

The Obama administration will ask Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, White House spokesman Robert Gibbs said this morning.

This is being reported this am from the White House. Geithner also said that many firms outside of AIG are paid too much. It is full salary cap on the country soon.



posted by Peter Greene