The Senate is putting together a bill that will fundamentally change the Federal Reserve, eliminating their bank supervision power. I'm not sure how they plan on making this work, given that the Fed regulates the money supply for the banks. Apparently they want to eliminate the FDIC and the Fed as a regulator and create a super-agency to do the same thing. This sounds like a typical Democrat solution, ie add another layer of bureaucracy to an already tangled web. And the fact that Chris Dodd is coming up with these ideas really scares me. This guy caused more damage to our financial system single-handedly than anyone at the Fed did. And wasn't it interesting that Obama wanted the head of the NY Fed, ie the lead regulator of most of the "too big to fail banks" that basically had to get bailed out, to be his Treasury Secretary. Talk about mixed signals from our government. Maybe they should stop worrying about all this health care insurance reform and start focusing on some actual workable solutions to some real problems.