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At the glittery Aria Casino in Las Vegas on Thursday night, Mr. Reid proudly told thousands of supporters waiting to see President Obama, "We're going to finish that conference report!" Despite the enthusiasm behind the words, Mr. Reid's use of cryptic Washingtonese to describe the most far-reaching restructuring of the financial regulatory systems since the Great Depression drew no applause.
The announcement by the governing Christian Democratic Union, and its sister party, the Christian Social Union, was a victory for Germany's popular defense minister, Karl-Theodor zu Guttenberg, who last month proposed effectively ending the draft as part of the most far-reaching restructuring of the military since the cold war.
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And the Ministry of Economy, Industry and Trade, now official Japan's leading advocate of far-reaching corporate restructuring, worries that progress will be impeded if a government-run fund owns 2to3percentent of all stocks.
In the early 1980s, however, double-digit inflation started to recede, and American business started a massive, far-reaching and continuous restructuring campaign that pushed profits up substantially by 1997.
The changes were announced in a party decision that also laid out broad and potentially far-reaching proposals to restructure the economy by encouraging greater private participation in finance, vowing market competition in several important parts of the economy, and promising farmers better property protection and compensation for confiscated land.
By contrast, South Korea recovered rapidly from the Asian financial crisis thanks to a far-reaching and extensive bank restructuring forced on it by the International Monetary Fund.
All three firms were in the midst of far-reaching cost-cutting and restructuring plans when they were hit by surging oil prices and tightening credit.
The chief executive, Stephen Hester, said the bank was "on track to meet the far-reaching goals of our five-year restructuring plan".
Li Ka-shing, Hong Kong's richest person, kicked off 2015 by announcing a massive restructuring of his far-reaching empire.
The most far-reaching of the commission's recommendations involve restructuring the Defense Department's disability and compensation system, which has provoked complaints from many military personnel.
But even as Japan's recession worsens the normally optimistic IMF now reckons that its economy will shrink by 1.7% this year there are few signs of restructuring in the country.Yet far-reaching and painful change is needed.
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