William K. Black — The City of London is so Criminogenic That It Boggles Even Its Banking Apologists

Forget Wall Street as the global bad guy. The City is worse. Wall Street actually conducts its worst deals there because the rules and regulators are even laxer. The leaders of the UK have concluded that finance is really the only game they have left and to loose financial hegemony would be disastrous for Britain. So most anything goes.
New Economic Perspectives
The City of London is so Criminogenic That It Boggles Even Its Banking Apologists
William K. Black | Associate Professor of Economics and Law, UMKC