The Dodd plan paradox
Here’s what I don’t understand about Chris Dodd’s financial reform proposal. On the one hand, he wants to fold the FDIC, the OCC, and the OTS (but not the NCUA, for some reason) into the Federal Reserve — something which makes sense to me.
But on the other hand, he says he wants the Fed to be less powerful, and “would reduce the stature of the Federal Reserve in several ways”.
Is this possible? Or was something lost in translation when the trial balloon was floated over the NYT?