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You are here News Congress Geithner to Ask Congress for Broad Power to Seize Firms

Geithner to Ask Congress for Broad Power to Seize Firms

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The Obama administration will ask Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, White House spokesman Robert Gibbs said this morning.

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