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.
Geithner to Ask Congress for Broad Power to Seize Firms
Senate Majority Leader John Thune (R-S.D.) on Monday said the Senate will attempt to pass an...
