On July 2 the senior legislative director of the Bankers Roundtable recited in this newspaper a list of questions that he felt needed to be resolved before the banking industry should consider supporting HR 10, the financial modernization legislation that the House passed in May and that is now pending in the Senate.

Bank lawyers and lobbyists are wonderfully adept at raising questions- and doubts-regarding proposed legislation, especially legislation like HR 10 that involved important change for the industry. Indeed, we have been at it for decades. The result, of course, is that our industry has remained shackled by badly outmoded restrictions, while our competitors have aggressively moved forward.

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