US - Following the decision by James Jeffords, the Vermont senator, to quit the Republican party and hand control of the Senate to the Democrats, Paul Sarbanes, one of Mr Greenspan's biggest critics, assumes the chairmanship of the important Senate banking committee.
Mr Sarbanes, a Democrat from Maryland, replaces Phil Gramm, a conservative Republican from Texas and a strong supporter of Mr Greenspan. Mr Sarbanes was a persistent critic of US monetary policy throughout the 1990s and one of the
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