It beats the current system of stating and digging in on partisan positions, getting nothing done, and then watching nothing getting done.

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Mr Hoban, in a statement to the Commons on 12 December 2011, pledged the coalition government would ensure there was a system of regulation that secured financial stability while protecting competitiveness, stating the financial sector would continue to be a critical part of the economy and recovery.

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The Federal Reserve, the European Central Bank (ECB) and the Bank of England all rejected Iceland's requests, stating, according to the Central Bank of Iceland, that the Icelandic financial system was too large relative to the size of the economy for plausible swap lines to be effective.

ECONOMIST: Iceland

It also alleges that the system of payments defrauded the FEC and the Immigration and Naturalization Service (INS), stating the FEC was given false information about the source of contributions and the INS was not told the source was a non-U.S. citizen so that the agency would permit the "conduits" to enter or remain in the United States.

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