Treasury Secretary Geithner calls for New Risk Watchdog - Just another day in the mortgage mess

On Thursday, March 26, 2009, Treasury Secretary Geithner told the House Financial Service Committee the United States needs a single regulator. He called for a new risk watchdog. As I stated on my blog earlier, my hope is if they set-up this super regulator, they do it correctly. Treasury Secretary Geithner needs to set-up this regulator with members and individuals from Congress, the FDIC, the Federal Reserve, the OTS, other regulatory agencies, and even former Loan Officers, Hedge Fund Managers, and those who sold derivatives. This would be a powerful super regulator. For the past decade one regulatory agency did not work. This needs to be a collective effort by all Agencies and parties involved. One can hope!

Stay tuned...I have more to share. Just another day in the mortgage mess!