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The City is one of the world’s foremost financial centres exactly because of what went on under the carpet in the last 30 years… call it accounting proficiency
by DrNuke 5y ago
The City is one of the world’s foremost financial centres exactly because of what went on under the carpet in the last 30 years… call it accounting proficiency in the beginning, facilitation next, hedging and venturing in the end. Of course, all kind of customers felt increasingly safe to do any sort of business, which started being exposed to the general public 15 years ago, the night Barclays almost went under, HSBC got caught with their trousers down, and Gordon Brown had to save the day in order not to declare systemic bankruptcy. The UK financial industry hugely benefitted from being half in, half out the EU… call it fortune, if you want.
- andylynch 5y agoMuch longer than 30 years- the City of London has been globally significant since Tudor times, and have been a political entity for over a thousand years - it’s still run along quasi-medieval lines.
- emptyfile 5y agoThe City of London is a byword for the businesses that operate there. Everything else, apart from its value as real estate, is just a historical curiosity...it doesn't matter
- RickHull 5y ago> The City of London is a byword for the businesses that operate there. Great example of synecdoche (rhymes with Schenectady)