Most sweeping changes since Great Depression

Proposal will give the Federal Reserve new regulatory power

 

 

 

WASHINGTON – The Bush administration is trying to confront the credit crisis that has rattled nerves from Wall Street to Main Street by proposing wholesale changes in how Washington oversees the financial system.

A plan set for release Monday would give new powers to the Federal Reserve so that the central bank serves as the system’s overarching protector of stability.

 

http://www.msnbc.msn.com/id/23853415/