Monday, May 19, 2008

Fed should not be super-regulator -U.S. senator

WASHINGTON, May 19 (Reuters) - The Federal Reserve should not be made into the United States' super-regulator under an anticipated shake-up of how the country's banks are governed, a senior Republican lawmaker said on Monday.

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"In questions of power, then, let no more be heard of confidence in man, but bind him down from mischief by the chains of the Constitution." -- Thomas Jefferson