This is a fantastic idea.... Positives being the reduction in overall costs of securities.... The elimination of US legal largesse.... A true worldwide hub for exchanges such as exemplified by the BATS model.... A game changer for infrastructure in LA.... A truly better life style environment for trading professionals....
I just got back from a vacation in Dominican Republic. The major three problems I saw with this country was power, water and garbage. Great place for a vacation but for a financial center? I would probably not even try and trade from there due to spotty Internet and frequent power outages. Maybe they can solve these basic infrastructure issues first?
............................................................................. Actually fibre optic cable is being laid throughout the country . The country has recently contracted to use garbage as a fuel for electricity. Electricity for the complex would be a separate issue versus the rest of the country. Also internet issues are specific to the complex. This project has been kicked around for some time, but support is building from firms all over the world. Similar to the project in Dubai.
.......................................................................... The real "acid test" would be for GS to take an interest.... If this were to happen....this could get very interesting....
........................................................................... If successful..... What an idealistic lifestyle prospect....
Hopefully, there is some major tax incentive for having your base of operation in Dom. Rep. The only problem that I can see with having to move to the Dominican Republic, is that it's full of Dominicans...who have the uncanny ability to be the loudest, proudest, most annoying bunch of people on the face of the planet. I'm sure that any right-minded Dominican would agree with me. It's not a racist comment, just a statement of fact. Dominican's love to talk (very fast, and very loud) about how they're Dominican. They have H1N1 of-the-mouth.
................................................................................... No incentives....no play.... However.....US politicians have similar traits....