Even now, there are whispers of bickering behind the scenes: the Bank of England, the Securities and Investments Board (the City's chief markets watchdog) and the Securities and Futures Authority (which regulates investment banks) cannot agree on proposed new rules detailing the responsibility of senior bank managers.

ECONOMIST: The City

His new board members are former Securities and Exchange commission Chairman Arthur Levitt, financial news journalist Jane Bryant Quinn, investment company executive Frank Savage, and founding Bloombrg partner Thomas Secunda.

CNN: Michael Bloomberg eyes run at New York mayor