As you argue in your leader about London as a financial center, it would be a great loss for Britain if international capital was driven away by capricious taxation (“The Real Windfall,” December 19, 2009). The City has long been crucial to the British economy. But you exaggerate the danger when you cite a few examples of threatened relocation to more friendly places. Capital is rather footloose, but the City and Canary Wharf are still the places to be for a host of finance companies on account of so many helpers that cannot relocate in bulk. Take all the law and accounting offices that are part of finance. Also, take all the companies specializing in information technology needed by finance. When you add all the lower and middle management personnel in finance itself, it is clear that thousands upon thousands of people are involved. In short, the inertia is likely to be tremendous. London is too big to fail, that is. In this context, it is financial companies that need to consider a bit more carefully the happy-go-lucky distribution of bonuses in the wake of so much help they have received from the British government to tide the crisis over. Punitive taxation is perhaps the best they deserve in view of all the tangible benefits that London offers as an international financial center.