The prospect of investment banks moving overseas in response to more stringent regulation has been raised repeatedly by opponents of such regulation. This raises an obvious question: why should we care? We buy shoes, toys, car and steel from abroad; why should anyone be bothered by the prospect that we would be getting our investment banking services from other countries. I can imagine some knuckle scraping Neanderthal raising such concerns, but surely no one with even the most rudimentary understanding of economics would care where we buy our banking services. Let's see some discussion of this one in the media.
--Dean Baker
