Britain's Banker Bonus Tax Could Spark an Exodus


First the U.K. slapped a new tax on bankers' bonuses, and now the banks are slapping back by threatening to take their business elsewhere. If the banks follow through, London could lose its strong position as one of the world's leading financial centers. The banks' move also shows that if the governments around the world truly want to get control over the risks the banks take, they'll need to work together and find a global solution.