Group attacks Fed power plan

A coalition of investors is set to attack Barack Obama&rsquo;s plan to give the Federal Reserve extensive powers over all big US financial groups today. It says the Fed&rsquo;s reputation has been tarnished, as it contributed to the downturn. The group of analysts, investors and former regulators will break the silence from the industry on regulatory reform.<br /> In a report from an alliance made up of two ex-heads of the Securities and Exchange Commission, the group calls for the creation of an independent body to police financial sector risks.