Geithner presses for tighter financial regulations in US, around the world

Treasury Secretary Timothy Geithner warned lawmakers on Monday that attempts to weaken the nation’s financial regulatory framework will hurt the best-managed firms. In a speech at the International Monetary Conference on Monday in Atlanta, Geithner scolded Republican lawmakers for trying to “starve regulatory agencies” and using the confirmation process to block appointments to gain leverage in shaping the rules under the Dodd-Frank law. “It won’t be successful and the attempt will risk greater damage,” he said.