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The dangers of playing politics with banking reform

The high churn of politicians is paralysing regulatory reform

On the evidence of the past few weeks in the US, Henry Kissinger was probably being generous when he noted that “90% of politicians give the other 10% a bad name”.

But politicians don't have to behave like stubborn toddlers to create the sort of uncertainty that we have seen during the stand-off over the debt ceiling. They are more than capable of doing that through the mundane mechanics of the day-to-day democratic process.

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