Good morning, and welcome to Monday's reading list.
This may finally be the week when Rep. Barney Frank (D-Mass.) will introduce legislation for overhauling regulation of the American financial system. At the center would be enhanced power for the government to seize and revamp failing firms and enhanced requirements for "too big to fail" institutions.
Meanwhile, in Europe, the ING says it will separate its banking and insurance businesses, then spin off the latter. The $11.3 billion move is designed to let ING pay back half of its Dutch government bailout and "resolve the uncertainty created by the financial crisis."
The U.S. dollar is still falling, mostly because investors are ready to take risks in the market with their money again instead of diving for the shelter of the greenback.
And the insurance industry is getting ready for a bonanza if Congress goes ahead with an overhaul of the health care system. That now seems likely enough that at the New York Times, Paul Krugman wonders about life "After Reform Passes."
The LA Times casts the insurance industry as looking forward to big wins. In addition to gaining millions of new customers, the paper writes, "there are likely to be no limits on what insurers can charge, while at the same time the plan is expected to limit competition from any new national government insurance plan that lawmakers create."
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