Democrat win sparks hope over Basel II process

REGULATORY UPDATE

The Democrats seized the House of Representatives and the Senate, giving them control of both houses of Congress. The new majority will hand the party control of important congressional committees, including the House Committee on Financial Services and the Senate Committee on Banking, Housing and Urban Affairs.

With senator Chris Dodd likely to assume chairmanship of the Senate Banking committee and representative Barney Frank in line to head the House Finance Committee when the Democrats take

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