U.S. bank regulator

[mark]

Global economy is now reach on high levels after a downfall. U.S. Senate Banking Committee Chairman Christopher Dodd plans to propose legislation that would merge four bank agencies into one super-regulator, The New York Times reported on Saturday.

Dodd's approach, meant as a starting point for the Senate's response to the financial crisis, differs sharply from that envisioned by President Barack Obama, especially in lessening the oversight role of the Federal Reserve, the paper said.

The Democratic senator told the Times in an interview on Friday he wanted to restore consumers' confidence in the nation's banking system, while not hampering business.

"We clearly need to put in place an architecture that restores confidence and makes people feel that when they engage in financial activities, from making a bank deposit to buying insurance or investing in stock, that they can have confidence in the system," the newspaper quoted Dodd as saying

[jb100]

There is no doubt that global economy is in better shape what it was a year back.So some regulatory framework is needed to restore faith in US Banking system. I think the proposed legislation by Christopher Dodd, Chairman, U.S.Senate Banking Committee is useful and constructive.The proposal to Create a Super regulator after merging four large US Banks is good enough to deal with future problems of all US Banks..