Banks￼ occasionally harrumph that if regulators are too mean, they’ll just pack up and go somewhere else. That’s complete bluster as far as TBTF banks are concerned. Any major bank needs to be backstopped by a real central bank....
[Former bank compliance officer] Andrew Norton debunks another sort of threat made by large banks: that they will move significant activities out of particular financial centers like London.
The Banks Are Bluffing – They Aren’t Moving Anywhere