The old maxim among regulators holds that the more the regulated whine about what you’re imposing on them, the better you’re doing.
In that case, the Obama administration must be doing a wonderful job on regulatory reform of the US financial system. Everyone, it seems, is critical of the Restoring American Financial Stability Act, which was passing through the Senate as Euromoney went to press.
Banks have been urging the administration to get on with this quickly because the very uncertainty over regulatory reform is beginning to harm them.
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