US regulatory reform reaches tipping point


The final text of US financial reform legislation arrived with a huge fanfare on June 25, following an epic 20-hour concluding session of the committee charged with reconciling the two existing bills. Four days later, the committee had to reopen discussions after the death of Democratic senator Robert Byrd and the defection of two moderate Republicans left supporters of the bill needing to shore up support. The last-minute flap prompted speculation that the bill is too controversial to win th