Re: Regulatory Arbitrage

[Dan Harmon <harmon@tenet.edu>]

On Fri, 10 Jun 1994, Robert Hettinga wrote:

alot deleted
> waterbed" analogy of gravity.  Regulation increases the mass of the bowling
> ball and its escape velocity, or the depth of the hole the bowling ball
> sits in.  In other words, the more regulation there is out there, the more
> the money runs down the hill to the euromarket.  Assuming a frictionless
> waterbed, of course;-).  Nassau, Panama, the Caymans, Luxembourg, Bahrain,
> Zurich, Paris, Amsterdam, Hong Kong, Singapore are all down at the bottom
> of the monetary gravity well.  The most important is London.  But we knew
> this already, from a list of spiffy places to put your money published here
> a few weeks ago.

Maybe we could get the list republished?

Dan