Investment banks must face same rules: Geithner

Timothy Geithner, the president of the New York Federal Reserve who played a key role in the Bear Stearns bailout, has said the major investment banks must be regulated in the same way as their commercial peers.

The Fed is responsible for the supervision of commercial but not investment banks, which are regulated by the Securities and Exchanges Commission.

But Geithner called on Monday for an extension of the Fed's regulatory responsibility to include the likes of Lehman Brothers and Goldman

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