The US Treasury Secretary plans to propose an expansion of federal authority over the financial system. The plans would extend federal regulation for the first time to all trading in financial derivatives and to companies including large hedge funds and major insurers. The US Treasury Secretary would also seek to impose uniform standards on all large firms, including banks as that would place limits on the scope of their activities.

View Geithner to propose vast expansion of US oversight of financial system, 26 March 2009