Amusing as the above diversion was for the financial press, far more concerning is the ambiguity over regulatory capital requirements in the medium term.

BBC: City Diaries: President Obama's new banking regulations

This will support increase in capital expenditure costs over the medium-term.

FORBES: Ford Stock Motors Toward $15 With New UAW Deal, Ratings Upgrade

The key issue in Malaysia is whether controls will help or hinder the restoration of sound medium-term growth and more normal access to international capital markets.

CNN: REFORM IS CRUCIAL

Ensuring that investors are able to achieve an adequate return on capital through export in the near-to-medium term represents the most promising path to achieving much greater volumes and, in so doing, maximizing domestic supply over the long term.

FORBES: Israel's Strategic Energy Opportunity Calls For Exports

There is plenty of venture capital for ideas that promise returns in the short or medium term, but longer-term research and development depends heavily on governments.

ECONOMIST: Crazy-talking boffins

" In the medium to long term, says Bhaskaran, "once the Chinese start returning with their capital and expertise, Indonesia will be in a steadier growth phase.

CNN: HARD WORK AHEAD

Having said that, what is also true is that unless businesses and global capital markets have some sense that we've got a plan, medium and long term, to get the deficit down, it's hard for us to be credible, and that also could be counterproductive.

WHITEHOUSE: President Obama Closes Forum on Jobs and Economic Growth