FOLLOW THE MONEY TO LONDON
Model of a Financial Empire, hidden in plain sight?
Here is an interesting report from NPR
Are Things Too Cozy In London’s ‘City’ Within A City?
by Dan Bobkoff July 05, 2013
“For at least a millennium, the heart of Britain’s commercial and financial industries has been the City of London.
…Because so few live there, and because as many as 300,000 people commute in each day, the City lets local businesses appoint workers to cast ballots. JPMorgan Chase gets votes. So does the Bank of China and the little lawyer’s office down the street.
With businesses its constituents, the City then uses its cash to promote the financial industry’s interests. In the view of one elected common councilor, City officials don’t spend much time analyzing what’s wrong with the banks.
“They’re always too uncritical,” says Patrick Streeter, who represents the City’s Bishopsgate Ward. “They’re more apologists for the U.K. financial community.”
How is it that a little local government has the power to influence legislation, host world leaders and advocate for British finance around the world?”