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News Link • Economy - Economics USA

Obama's "too big to fail" plan blasted in Congress

• Reuters
Treasury Secretary Timothy Geithner on Thursday scrambled to fight off attacks from all sides on a new Obama administration plan for tackling financial risk in the economy unveiled just two days ago.

After weeks of negotiations, the administration and Democratic Representative Barney Frank released a sweeping proposal on Tuesday to give regulators new powers to regulate, and even shut down, big financial firms threatening economic stability.

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