"If we closed down a bank everytime we found an incidence "of fraud, you wouldhave rather...
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"If we closed down a bank every
time we found an incidence "of fraud, you would
have rather fewer banks "than we do at the moment." London was a place for
banks to engage in business that was not allowed elsewhere, where senior bankers did not have to worry about the consequences of their actions
time we found an incidence "of fraud, you would
have rather fewer banks "than we do at the moment." London was a place for
banks to engage in business that was not allowed elsewhere, where senior bankers did not have to worry about the consequences of their actions
Full Transcript
00:00:01.000 --> 00:00:03.627
"If we closed down a bank every
time we found an incidence
00:00:03.627 --> 00:00:06.147
"of fraud, you would
have rather fewer banks
00:00:06.147 --> 00:00:08.397
"than we do at the moment."
00:00:10.691 --> 00:00:13.315
London was a place for
banks to engage in business
00:00:13.315 --> 00:00:15.671
that was not allowed elsewhere,
00:00:15.671 --> 00:00:17.981
where senior bankers did not have to worry
00:00:17.981 --> 00:00:21.551
about the consequences of their actions.
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Movie Summary
How Britain transformed from an imperial power to a financial power.
![- [Narrator] Light-touch
regulation was one way - The Spider's Web: Britain's Second Empire](https://clip.cafe/img400/narrator-light-touch-regulation-one-way.jpg)
![- [Narrator] In Britain's
offshore jurisdictions, - The Spider's Web: Britain's Second Empire](https://clip.cafe/img400/narrator-in-britains-offshore-jurisdictions.jpg)
