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It is hard to be closer to wall street than Geithner, but Lew has done it. In addition his Treasury Department came out against the new Brown Vitter Bill and says the "too big to fail" problem does not exist.


Lew won't adopt Geithner's Stand against Wall Street Deregulation Bills


—By Erika Eichelberger
| Wed Apr. 24, 2013 3:00 AM PDT


Last year, then-Treasury Secretary Tim Geithner slammed a series of bills that would have deregulated Wall Street banks. But this year, as a slate of nearly identical bills is being considered by the House Financial Services Committee, newly minted Treasury Secretary Jack Lew has declined to oppose them.

The bills are presented as technical fixes to the 2010 Dodd-Frank Financial Reform Act, which was aimed at preventing another 2008-style financial crisis. Most of them aren't. One bill would allow certain derivatives that are traded among a corporation's various affiliates to be exempt from almost all new Dodd-Frank regulations . Another measure would expand the types of trading risks that banks can take on. Yet a third bill would allow big multinational US banks to escape US regulations by operating through international arms. Etc . Etc .