. >> susie: arthur levitt d wiiam donaldson's criticism of thfed was blunt. their report compid by the investors' working group sai instead, they are recommding the creation of an iependent oversight board to monor risk manament. th so-called "systemic risk oversight board"ould be appoted by the president and approv by congress with no affiliation to governmen agenci. the task forces also recommending hedgeunds and private equity firms brequired to rister with the s.e.c. and be subject to oversit. over the couer derivatives, like cdit default swaps, should trade on regulated exchanges and be subject to stct government regulation. and congress suld create a new agency to regulate consumer financial products including mortges. >> susie: i sat down wit william donaldn earlier today and asd him why he's opposed to the f taking on the job of "systemic risk regulator." >> we feel that the basically the federal reserve has got its handsull in terms o monetary policy and felt an indepdent oup that is not coming out of anyone one of they existing agencies, independent