The City of London has been one of the leading financial centres in the world for over 300 years, playing an essential role in the mobilization and distribution of credit and capital. Over that time the business conducted within its confines has generated vast wealth for the British people and provided an essential service for successive British governments through the ability to borrow and tax. For those reasons alone it might be assumed that the City would be regarded as the brightest jewel in the British crown, treasured by all because of the riches it generated. Such a view, though, runs contrary to both the culture of envy, created by the sight of the large fortunes generated in the City, and a fundamental mistrust of money that was made through manipulating money itself rather than productive toil. As the inaugural issue of a magazine devoted to wealth observed in 2008, ‘There is a widespread belief in a distinction between the deserving and the undeserving rich. And it goes far beyond the ancient debate over egalitarianism or socialism. Even for those who are happy to accept capitalism, and the idea that some will be richer than others, there is still a sense that some of the wealthy do not deserve their status’. Among those perceived as the least deserving were bankers who, in the words of a respected BBC journalist in 2008, ‘Were making obscene fortunes for themselves by gambling with other people's money’. This meant that the City of London, as a financial centre, had major barriers to overcome if it was to achieve a favourable status within British society. Compounding this problem of gaining acceptance was the fact that much of the business undertaken in the City was of an international nature and was conducted by people who were seen to be foreign, either because of race or religion. This gave them the status of outsiders, erecting another barrier between those in the City and the rest of society.