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Rep. Frank Calls for More Regulation
By Bob Oakes
Listen to story (Real Audio)
NEWTON, Mass. - October 07, 2008 - On the same day Congress launched its first hearing on causes of the financial crisis, Massachusetts Congressman Barney Frank called for increased regulation to avoid another meltdown.
In Newton Monday, Frank, a lead negotiator of the $700 billion bailout, said there should hearings to consider more stringent policing of hedge funds, investment banks, and private equity firms.
In a conversation with WBUR's Bob Oakes yesterday, Congressman Frank said right now the country is stuck somewhere between a depression and a recession.
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