Wednesday, May 26, 2010
National Securities Regulator Must Be in Montreal
If, as according to the NSR's Bay St. proponents, modern information technology means one can trade equally well from anywhere, and the NSR will have no significant impact on existing local institutions, then given Montreal's unique and forward-thinking capital markets, the NSR is best in Montreal, for reasons of political-economic unity and prescience. If some institutions wish to leave Bay St. and follow the NSR to Montreal, then what could be more fitting, since that is where they were pretty much all born, and were headquartered until quite recently. If Brinks trucks can roll down the 401 one way, they can roll back the other. All their kids can go to English schools now, they can have signage in English, and given how QC Govts, PQ as much if not more than PLQ, are always ready to make fiscal and cultural exceptions and provide subsidies for large businesses moving to QC, I am sure they can be well satisfied. And we have the best quality of life, as their parents will tell them, and property is still relatively cheap. And our net corporate taxes are among the lowest, sadly. Welcome home boys! Bienvenue!
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