New York's insurance regulator, Eric Dinallo, has emerged as the lead regulator trying to find some sort of solution to the bond insurer crisis, as representatives of the U.S. Treasury and other federal agencies have stayed out of it.

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She would replace Elisse Walter, who has been interim SEC chairman since Mary Schapiro resigned in December, and become the first former prosecutor to lead the top regulator overseeing Wall Street.

WSJ: White promises "unrelenting" enforcement at SEC

At a recent industry forum Liu Binjie, the director of China's General Administration of Press and Publication, the industry regulator, said China would like to see such partnerships between studios and publishers lead to a massive consolidation, leaving half a dozen giant companies capable of spreading Chinese words internationally.

ECONOMIST: China��s book industry gets a rewrite