The Guts of Geithner

I suspect that some in the SEC want them for garters right now. His remarks in the FT are sensible, but there is a consolidated supervision humdinger:

The institutions that play a central role in money and funding markets – including the main globally active banks and investment banks – need to operate under a unified framework that provides a stronger form of consolidated supervision, with appropriate requirements for capital and liquidity.

Note in fact two substantial proposals in one sentence. Supervising the investment banks and the depositary institutions in the same framework - sayonara SEC - and capital requirements for liquidity risk. Is there the political will to get this done against what will doubtless be massive push back by the investment banks and their friendly local SEC?