George Osborne , Britain's chancellor of the exchequer, outlined plans to overhaul Britain's financial regulatory structure, including giving the Bank of England supervisory responsibilities for banks and jettisoning the Financial Services Authority.

ECONOMIST: Business this week

Why, if politicians are at last to do something about the Depression-era rules that govern financial firms, have they not tried to update America's supervisory structure at the same time?

ECONOMIST: Killing Glass-Steagall