Economy - Monday
(Investor's Business Daily)
Investor's Business Daily - The Federal Reserve and the SEC formally agreed to share information about commercial and investment banks. Regulators want to beef up oversight of Wall St. firms, especially now that the Fed has started letting brokerages borrow directly from the central bank since Bear Stearns' mid-March near-collapse. The Fed has oversight of bank and financial holding companies, while the SEC regulates securities firms, including brokerage giants Goldman Sachs , Lehman Bros. , Merrill Lynch and Morgan Stanley .
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