America’s financial sector has shown renewed strength in recent months—political strength, that is, undermining most of the sensible proposals for banking reform that remain on the table. If we are still making any progress at all, it is because of the noble efforts of a small number of US senators.
Most notable has been Senator Ted Kaufman, a Democrat from Delaware (yes, a pro-business state), who has pressed tirelessly to fix the most egregious problems in America’s financial sector. He understands that successful reform requires three ingredients: arguments that persuade, the ability to bring colleagues along, and a lot of…
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