Vijay Sai Reddy, released recently on bail, is the financial advisor to politician Jagan Mohan Reddy, who is being investigated for corruption charges. Jagan Mohan has described the case against him as one of political vendetta. His advisor, Vijay Sai, says the case is winning his client public sympathy. 18 crucial by-elections will be held in Andhra Pradesh next month. Jagan Mohan’s party, the YSR Congress, is contesting in all 18 seats.

President Obama announced the introduction of the new consumer financial protection agency, which will execute a plan for regulation reform that would improve the current “patchwork system” full of outdated regulations and lax oversight that helped lead to last year’s crisis,” and “stand up, not for big banks, not for financial firms, but for hard-working Americans.” Such changes, he says, would prevent consumers becoming victims of “predatory practices of some in the financial industry …