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Group attacks Fed power plan
A coalition of investors is set to attack Barack Obama’s plan to give the Federal Reserve extensive powers over all big US financial groups today. It says the Fed’s reputation has been tarnished, as it contributed to the downturn. The group of analysts, investors and former regulators will break the silence from the industry on regulatory reform.
In a report from an alliance made up of two ex-heads of the Securities and Exchange Commission, the group calls for the creation of an independent body to police financial sector risks.