Geithner outlines regulatory overhaul

Tim Geithner, the US Treasury secretary, sounded the knell of light-touch regulation on Thursday, outlining a reform agenda that if passed will see a single systemic-risk supervisor clamp down on all financial firms deemed either too big, or too interconnected, to fail.

"The crisis has made clear that certain large, interconnected firms and markets need to be under a more consistent and more conservative regulatory regime," Geithner told the House of Representatives' Committee on Financial Se