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June 15, 2009 at 08:00 PM
WASHINGTON BUREAU — Lawrence Summers, chairman of President Obama’s National Economic Council, is gearing up to unveil the Obama administration’s financial services regulation reform plans Wednesday.
Summers says the details of the reform efforts are “mind-numbingly complex,” and observers say it could be several weeks before reform legislation is introduced.
Treasury Secretary Timothy Geithner is set to discuss the proposals Thursday, in rare consecutive hearings before the Senate and House financial services committees.
The Senate Banking, Housing and Urban Affairs will hold a hearing at 9:30 a.m. Thursday, in a large, rarely used hearing room in the Hart Senate Office.
