The Treasury plan reported on over the last couple days, in reality fuels more questions than it answers, as the extremely vague plan - if you could call it that - doesn't really outline much in detail.
One thing the plan does offer, is an increased interference from the government in the affairs of the financial business community, which may not be the best solution for all parties involved.
While Treasury Secretary Henry Paulson said he doesn't see the Fed taking the authority in approving specific products, he did say it would be involved in something that would be able to identify "excess complexity" which could end up causing damage to the system; an obvious reference to financial instruments like derivatives.
According to the plan, the Fed "would have the responsibility and authority to gather appropriate information, disclose information, collaborate with the other regulators on rule writing and take corrective actions when necessary to ensure overall financial market stability."
WSJ's Damian Paletta looks at Treasury Secretary Paulson's plan to overhaul the U.S. financial regulatory structure.
