I just listened to Presidnet Obama's Teleprompter speech # 4,361.____Yes, he pretty much handed over all powers of the SEC to the Fed. In fact, you can tell that this entire speech was written by The Fed. It had overtones of remorse from the FED. Maybe even a little humility such as ( "we need to watch out more for the American people"). Oh how warm and fuzzy that sounds. ____Obviously the FED is really scared. The Fed Chief will now have all powers over all Financial Institutions.Which will result in even more red tape. And that will pretty much put the smaller and more well run Banks out of business to make room for the larger more corrupt ones. It was a brilliant Chess Master move on the part of the FED. And during the entire speech, not once did President Obama announce any guilt what so ever of the Federal Government in the Financial crisis. Not one word about the Government forcing bad loans VIA Fannie May and Freddie Mac.