Tim Geithner Scolds U.K. For 'Light-Touch' Regulation
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Treasury Secretary Tim Geithner made some waves in England today by scolding British regulators for their light touch, which he says added to the turmoil of the global financial crisis.
Speaking to the BBC, Geithner said that the strategy of luring financial activity to London away from New York gave the country's banking systems a unhealthily large share of the economy.
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