Ever wonder who looks after what in U.S. regulation of payment, clearing and settlement – the plumbing, so to speak, of the financial system? Check out this dizzying chart from the Federal Reserve Bank of Chicago.
U.S. Representative Barney Frank has never been shy about expressing his opinions. His opening remarks at a hearing he chaired with Treasury Secretary Timothy Geithner on Wednesday was no exception. Frank poked fun at a political squabble over healthcare reform as he detailed his position on what to do about non-bank financial firms considered “too big to fail.”