Who do Dimon, Diamond and co think that they're kidding?
.
Simon English / London Evening Standard / April 12, 2011
thisislondon.co.uk
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…So Jamie Dimon of JPMorgan, a bank as American as apple pie and serial murder, hints he may abandon the US if regulators apply capital requirements he feels are too stringent.
Deutsche Bank, a bank so German it is called German Bank, mouths off about quitting Deutschland owing to supposed competitive disadvantages being put in place by regulators.
And Bob Diamond of Barclays says a skip abroad is just two ticks away, if he doesn't get, as usual, precisely what he wants, exactly when he wants it.
All of which prompts the question: where do these guys imagine they are going? Where is this magic town of banking beauty, where finance is made more welcome than it is in London or New York? Atlantis?
For them all to mean it, what it would have to involve is the big banks swapping jurisdictions, perhaps at the same time. Presumably, in this fantastical scenario, Bob passes Jamie at Heathrow coming in the other direction. "You're making me look ridiculous!" they shout at each other. "I've taken your parking space and your secretary! Golf next weekend is now completely out of the question!"
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