WASHINGTON (AP) – Democratic leaders have committed to enacting by the end of the year the biggest regulatory revision to the U.S. financial system since the 1930s – an undertaking so ambitious it has some lawmakers worried about missteps.
“We have to evaluate it, weigh it, slow it down and make sure we do it right,” said Sen. Richard Shelby of Alabama, the top Republican on the Senate Banking Committee. “Because if we don’t, we will pay dearly.”
Treasury Secretary Timothy Geithner was expected to outline the administration’s plan on Thursday before the Senate panel and the House Financial Services Committee.
http://apnews.myway.com/article/20090618/D98T16I80.html
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