London Should Love Its Bankers

Intelligence Squared · Sep 4, 2014 · 1h 37m

Do the British have a death wish? You’d be forgiven for thinking so the way so many of them seem to want to cripple the most dynamic part of their own economy. What is the world’s largest market for dollars? London. Where does the Chinese State Administration of Foreign Exchange go when it wants to buy or sell billions of US Treasury bonds? London. Which sector of the economy delivers £12 out of every £100 in tax to the Chancellor of the Exchequer? London’s financial centre. Its accumulated skills, its light touch regulation, its openness to competition – these have made London the envy of…