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But simply canceling those deficit-reduction measures would risk a financial crisis that would make matters worse, the report said.
Clegg told BBC Radio 4's Broadcasting House yesterday morning: "He [Darling] needs to enjoy the public's trust when it comes to issues of financial probity, of money, of managing our nation's finances.
And, given that very unique responsibility that he has, it's simply impossible for him to continue in that role when such very major question marks are being raised about his financial affairs".
Next, he pointed out that full nationalization of a financial institution might trigger systemic shocks, as investors retreated from other banks, creating exactly the kind of panic that nationalization was intended to prevent.
For that, thank the Chinese regime's vice-like grip on its financial system.
One of the things that's increasingly clear about the way financial markets work is that the order in which events occur matters quite a bit.
The result is a consumer financial-protection agency that's prevented from overseeing one of the most common, and most important, financial products that consumers buy.
But another cost has been the damage done to the whole notion of financial innovation.
People have jumped on the bandwagon of blaming financial markets.
The energy-bar maker cut financial support for the athletes but continued to promote the film.
Both MSCI and FTSE, major providers of financial indexes, have also created fossil-free or low-carbon indexes in response to demand from investors.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com