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Obama to propose strict new regulation of financial industry

LA Times reports:

Under the plan, expected to be released Wednesday, the government would have new powers to seize key companies — such as insurance giant American International Group Inc. — whose failure jeopardizes the financial system. Currently, the government’s authority to seize companies is mostly limited to banks.

Is there really any doubt about what this man wants to do?

via Obama to propose strict new regulation of financial industry – Los Angeles Times.

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