New York city rules state that pregnant and parenting pupils must be allowed in schools, and in that sense we believe that they are best served in the existing public schools system.

In a speech on October 25th at the Economist's Buttonwood Gathering in new York, Mervyn King savaged big Banks and criticised the new Basel 3 rules as too soft.

Critics accuse it of causing foreign firms to list their shares in London rather than New York; others whinge about its onerous rules on internal controls used for financial reporting.