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[RT] FED moves into 5 brokerages - WSJ



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Subject: [TimeandCycles] FED moves into 5 brokerages - WSJ

By Kara Scannell and Sudeep Reddy
 Companies Featured in This Article: Bear Stearns, Goldman Sachs Group, Morgan Stanley, Lehman Brothers Holdings, Merrill Lynch, J.P. Morgan Chase

WASHINGTON -- For the first time in more than a decade, the Federal Reserve has set up shop inside brokerages to monitor their financial condition, perhaps the beginning of an expanded role for the central bank and additional regulation for Wall Street.

The Fed's new role is tied to its recent decision to lend money to Wall Street firms. The central bank already loaned funds to commercial banks, but it also regulates them.

The expanded reach of the Fed comes amid criticism aimed at the Securities and Exchange Commission and its oversight of Bear Stearns Cos. before its collapse. The ...


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