[legion]

http://news.yahoo.com/s/ap/20080329/ap_on_go_pr_wh/fed_overhaul

The Bush administration is proposing a sweeping overhaul of the way the nation's financial industry is regulated.
...
The proposal would designate the Fed as the primary regulator of market stability, greatly expanding the central bank's ability to examine not just commercial banks but all segments of the financial services industry.

Does anyone else think that this will dilute the Fed's mission of alternatively fighting inflation/fighting recession?

I also fear that it will ruin an institution that over the past 70 years has done a pretty good job of staying out of politics.