Yes. That sound you just heard was exactly what "the other shoe droppIng" sounds like.
From today New York Post:
London is paying a steep price for poaching a slew of new stock listings from Wall Street last year -financial fraud in the United Kingdom rose 40 percent.A report says British authorities are aghast at the skyrocketing of business fraud in the U.K., ranging from stock swindles to accounting hijinks such as rigging profits and asset values.
The report by accounting firm BDO Stoy Hayward stopped short of blaming the crime wave on the influx of tiny American startup companies and their entourages, who've fled the stricter U.S. stock exchanges in New York to London, where lately it's easier to list shares and get investors' cash.
Brits Get Bit [New York Post]
Posted by Trader, Jan 08, 2007 12:15PM
Please post more images of old City financiers in top hats and coats. It's such a welcome change from what the banker plebs wear on Wall Street these days.