Reuters
Monday, April 19, 2010; 5:02 PM
WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner on Monday called on Congress to enact stronger rules for the U.S. financial system, telling lawmakers the stability of the system cannot be left vulnerable to reckless choices of individual firms.
"If these reforms become law, we will be far better situated to avoid the abuses that led to the crisis," Geithner said in excerpts of prepared testimony for delivery on Tuesday to the House of Representatives Financial Services Committee. The Treasury Department released the excerpts on Monday.
Congress is in the midst of consideration of the most sweeping changes to the U.S. financial system since the Great Depression.
(Reporting Corbett B. Daly; Editing by Dan Grebler)