BUSINESS
07/02/2009 05:12 am ET Updated May 25, 2011

Obama Near Proposal To Revamp Financial Regulations

WASHINGTON -- The Obama administration will soon propose a comprehensive plan to expand the authority of the government to seize large troubled companies, create a new regulator for companies that pose risks to the financial system and possibly establish an agency to oversee consumer debt like mortgages and credit cards, federal officials and lawmakers briefed on the proposal said.

Read more on nytimes.com