Geithner to seek unprecedented powers, insiders say

WASHINGTON (CNN) -- Treasury Secretary Tim Geithner will push for unprecedented new regulatory powers on Tuesday to seize financial institutions whose failure would pose serious risks to the U.S. financial system, according to two senior administration officials.

Geithner is expected to make his case in testimony before the House Financial Services Committee.

With such "resolution authority," the federal government could intervene and aggressively reorganize a troubled business -- such as insurance giant AIG -- before its problems ripple through the global financial system, the administration officials said.Read More