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Wall Street Banks Consider Breaking For The Border


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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