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Boehner says Geithner nonbank plan a power grab
March 24, 2009 / 2:45 PM / 8 years ago

Boehner says Geithner nonbank plan a power grab

<p>U.S. Treasury Secretary Timothy Geithner (R) talks with House Financial Services Committee Chairman Barney Frank before testifying in the committee's hearing on "Oversight of the Federal Government's Intervention at American International Group (AIG)" on Capitol Hill in Washington March 24, 2009. REUTERS/Kevin Lamarque</p>

WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner’s request for government authority to wind down failing non-bank financial firms is an unprecedented power grab, House Minority Leader John Boehner said on Tuesday.

“This is an unprecedented grab of power, and before that occurs, there ought to be a real debate about whether we should give that authority to the Treasury Secretary,” Boehner, an Ohio Republican, told reporters. There were many unanswered questions, he said, but stopped short of saying flatly that he would oppose the plan.

Editing by Theodore d'Afflisio

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