Where the Banking Things Are

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In a column about something else entirely, Brad DeLong says in passing:

The Economic Policy Institute reports a poll showing that Americans overwhelmingly believe that the economic policies of the past year have greatly enriched the bankers of Midtown Manhattan and London’s Canary Wharf (they really aren’t concentrated on Wall Street or in the City of London anymore).

True, but “Wall Street” and “the City” are very handy labels for referring to the financial industry in, respectively, the United States and Great Britain.  Anyone who writes about finance should therefore be eager to keep them around.  In fact, I think we need more of them for other countries.

But do we have them?  Are the bankers of Frankfurt, Zurich, and Tokyo concentrated in some part of the city that’s since become a synonym for, respectively, the German, Swiss, and Japanese financial industry?  If so, what are they?  If not, why not?  I remember wanting such a word for the Japanese financial sector once, but I couldn’t find it.  But I also couldn’t figure out whether that was because it doesn’t exist, or because I just didn’t know where to look.  Can any jet setting financiers help me out here?

DEMOCRACY DOES NOT EXIST...

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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