The Economist (September 15)
2012/ 09/ 17 by jd in Global News
With the tighter capital requirements of Basel III and more stringent regulations, investment banking has been radically downsizing. “The financial industry in London, the world’s most international banking hub, will probably have shed 100,000 jobs by the end of this year from its peak of 354,000 in 2007.” While “some of the industry’s shrinkage is overdue” and “this is broadly a good thing,” politicians and regulators need to be careful about moving to the other extreme and “regulating too fiercely.”
