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Wall Street Banks Consider Breaking For The Border

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In the 1960s US draft dodgers headed north to Canada to avoid the war in Vietnam. Today, some 40 years later, Wall Street may be preparing a similar move to avoid dealing with US president Barack Obama's stricter new banking regulations. Many of Wall Streets top names already have offices in Toronto, including Goldman Sachs, J P Morgan and Citi. US bankers are particularly concerned about protecting their proprietary (or prop) trading and hedge fund operations. It's the kind of stuff that makes Wall Street exciting -- and highly lucrative.

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									Wall Street Banks Consider Breaking For The Border
Erik Heinrich
Global Finance; Mar 2010; 24, 3; Docstoc
pg. 8




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