> It's like if Wall Street could tell the President of the US to take a hike
An alternative take:
If it turns out, by some legislative fluke, that a particular square mile of the US is not bound by all of its laws, it won't be long until Wall St companies start moving their headquarters!
This is kind of what happens in Las Vegas, but to a lesser extent than the City of London. Most of what we think of as "Las Vegas" is actually the unincorporated territory known as "Paradise."
That's pretty common, though? It's the whole reason the census has the concept of metro statistical areas. Phoenix, Portland, Seattle, all have this same effect to varying degrees.
But none of them have a rule saying the POTUS cannot visit with the Mayor approving, so there's that. And "City of London" is tiny compared to the rest of the London metro.
An alternative take:
If it turns out, by some legislative fluke, that a particular square mile of the US is not bound by all of its laws, it won't be long until Wall St companies start moving their headquarters!