| Fed frontrunner Summers faces regulatory past | Lawrence Summers's emergence as the frontrunner as the new chairman of the US Federal Reserve has flummoxed his left-of-centre critics after a financial crisis linked in part to the very securities, over-the-counter derivatives, which were left unregulated on his watch.
Most staffers think that the Senate would eventually confirm Mr Summers but the outspoken Liberal Democrats who have criticised his regulatory record hold great sway on the banking committee. The result could be something the White House would like to avoid.
http://link.ft.com/r/6NPSBB/A5T55D/KE63S1/3C0GL6/A5OVVY/GX/h?a1=2013&a2=9&a3=5
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