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President Obama is expected to outline next week a proposal for a financial regulatory overhaul, a revamp designed to both bolster investor protection while streamlining the current structure.
Treasury Secretary Tim Geithner told a Senate Appropriations subcommittee that as part of the plan, the administration would propose a new body to meld various segments of the current regulatory structure in an effort to monitor the overall health of the financial system.
"Together, these changes will help prevent another crisis of the magnitude that we have just lived through, and give the government new tools to better cope with similar problems, should they occur in the future," Geithner told lawmakers.
