Washington D.C. President Obama is expected to outlinenext week a proposal for a financial regulatory overhaul, a revamp designed toboth bolster investor protection while streamlining the current structure.
Treasury Secretary Tim Geithner told a SenateAppropriations subcommittee that as part of the plan, the administration wouldpropose a new body to meld various segments of the current regulatory structurein an effort to monitor the overall health of the financial system.
"Together, these changes will help prevent anothercrisis of the magnitude that we have just lived through, and give thegovernment new tools to better cope with similar problems, should they occur inthe future," Geithner told lawmakers.
