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Obama to shake up SEC after blunders
20.05.09
Barack Obama is contemplating stripping Wall Street regulator, the Securities and Exchange Commission, of some of its powers next week in what would be the largest reform of the US financial system in 75 years.
The SEC has been found wanting after it failed to spot the financial crisis and missed the Bernard Madoff fraud. Obama is considering creating a new agency to take over the big role of policing consumer finance.
