Handsome Haggard Treasury Elf Timothy Geithner is tap-dancing around Capitol Hill today, trying to sell legislators on his fancy new plan to overhaul America's financial regulations.

The proposal includes a provision that would allow Ben Bernanke to eat children if he deems it necessary to stabilize the economy, and that has some folks concerned…

"I do not believe that we can reasonably expect the Fed or any other agency to effectively play so many roles," said Sen. Richard Shelby (R-AL), noting that it also sets monetary policy, regulates banks and handles an array of other functions.

Some lawmakers have proposed that the job of overseeing large institutions be left to a council of regulators, not a single agency.

Geithner anticipated that point in his testimony before the Senate Banking Committee, saying in his opening remarks: "You cannot convene a committee to put out a fire."

Timmy, please.

You're talking to the United States government.