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This means that conventional border-crossing banks and other systemically important financial institutions will become a thing of the past.

To which I respond, "so what?"

We will not see the kind of cross-border branch banks that we have seen during the past decades for very much longer

Good.

If a financial institution wants to become a presence in a country they can damn well follow the banking (and tax!) regulations of that country.  

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Mon Aug 17th, 2009 at 11:38:13 AM EST
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