CityComment: London bankers look at New York with envy, because it is easier for them to make money. It is also easier for them to lose it in ways that rebound on the rest of us 🏙️
The reason the Square Mile has thrived for centuries and will shrug off Brexit is precisely because there are tough laws that apply to everyone.Since the banking crisis, which came about partly because rules had been relaxed or in the case of Wall Street barely existed in the first place, banks have been required to carry much higher levels of capital.
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