Ex-Fed chief Paul Volcker's 'telling' words on derivatives industry

[AtW]

That's right, they don't have organised crime, or corruption in the USA ...

One of the Russian "oligarchs" that can freely travel to UK and Europe wasn't able to get visa to USA for many years, even now I think due to alleged links to mafia (in the industry that he controls a lot of owners were shot dead in 90s, somehow he survived).

The matter of fact is that USA actually tries to get such criminals and NYSE regulations were stricter than LSE, which is why all those dodgy IPOs happened here. I am sure the City called it "competitiveness"

[snaw]

One of the Russian "oligarchs" that can freely travel to UK and Europe wasn't able to get visa to USA for many years, even now I think due to alleged links to mafia (in the industry that he controls a lot of owners were shot dead in 90s, somehow he survived).

The matter of fact is that USA actually tries to get such criminals and NYSE regulations were stricter than LSE, which is why all those dodgy IPOs happened here. I am sure the City called it "competitiveness"

Well, I can't argue about our visa system being laxer than the US, but apart from that I reckon you're talking out of yur arse, as usual. NYSE only got stricter after Enron, and they've been screaming out ever since to stop being so strict cause they're losing business, and prominence because of it.

[AtW]

NYSE only got stricter after Enron

Enron was in 2001, right now it is end of 2009: whole decade gone since they got much stricter.

Yes I am sure good fellows from NYSE are not very happy about "their business" going to the City, but that's not their decision - unlike UK in the USA there is Govt that actually pursues criminals, they do it because they actually make things in USA that they can sell, rather than relying on trading football clubs in hope of some rich foreinger bringing money into this country.