RSSGeithner urges quick action on derivatives
From: The Washington Times | December 2, 2009
Treasury Secretary Timothy F. Geithner on Wednesday urged Congress to quickly pass legislation to rein in derivatives, the exotic and complex financial instruments that exacerbated the economic crisis. Mr. Geithner told a Senate panel on Wednesday that regulating derivatives would reduce risk to the financial system and help companies that rely on the instruments save money. "I don't think time is with us," Mr. Geithner said while testifying before the Senate Agriculture, Nutrition and Forestry Committee, which has jurisdiction over certain trade issues. "The longer we wait, the harder it's going to be; the forces that always fight reform will ...
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