Financial crises routinely trigger sweeping overhauls of financial regulation, but whose interests do these reforms serve? In new research, Orkun Saka, Yuemei Ji, and Clement Minaudier find that political leaders facing term limits are much more likely to respond to financial crises by introducing reforms that benefit banks over the public or long-term financial stability. This phenomenon occurs more frequently in countries where the revolving door between politics and finance is common.