Partisan rancour hits US bank bill

There is little consensus on a new financial reform effort
Senator Richard Shelby (R-AL) opens a hearing of the Senate Banking Committee, September 9, 2004 on Capitol Hill in Washington, DC. The hearing is on Examining the Impact of the Sarbanes-Oxley Act and Developments Concerning International Convergence. Photographer: Chris Kleponis/ Bloomberg News.

The launch of the most serious attempt at financial reform since the Dodd-Frank act quickly descended into partisan backbiting in Congress on Tuesday, diminishing the chances of substantive change.