Geithner hearing 092309

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Washington, Sep 23 -

Congressman Don Manzullo (R-IL) today told U.S. Treasury Secretary Timothy Geithner the Administration should increase enforcement of its existing financial regulations before it pursues an extra level of big government bureaucracy that could stifle economic growth in America.

Manzullo, a member of the House Financial Services Committee, questioned Secretary Geithner this morning during a hearing on the Administration’s proposed Consumer Financial Protection Agency, a massive new federal agency that would create new burdensome regulations on America’s financial institutions and hamper access to credit and efforts to restore our economy. During the questioning, Manzullo pointed out that the Fed had the authority to crack down on risky mortgages years ago but failed to act.

To view Manzullo’s testimony, click here.