Posted AT 11:06 AM EST on 31/03/08
Fed overhaul plan draws sweeping criticism
WASHINGTON — The Bush administration Monday proposed the most far-ranging overhaul of the financial regulatory system since the stock market crash of 1929 and the ensuing Great Depression.
The plan would change how the government regulates thousands of businesses from the nation's biggest banks and investment houses down to the local insurance agent and mortgage broker.
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