London vs. New York - Which Will Emerge Stronger?

London vs. New York

A recent article claims that London will remain the financial center of the world, despite their efforts to put strict regulations in place across the financial and banking industries. Here is a short excerpt from this article:
Setting out his vision for change, the FSA's new chairman issued a stark warning that regulation will become far more stringent. However, this tough new line will not harm London's position as a premier financial centre, he claimed, because regulation worldwide will become more rigid.

In a statement intended to counter threats from hedge funds and other financial institutions that they may relocate if the UK becomes unattractive, he added: "We are not going to fall into the trap that we did in the past of trying to get a minor competitive advantage by making regulation a little lighter than elsewhere. The disadvantages of getting it wrong are hugely bigger."

What do you believe? Will New York or London emerge stronger in 3-5 years once this crisis has passed?


Anonymous said...

London. New York is a town of jobless professionals

Anonymous said...


Anonymous said...

I agree - everyone has lost their job or is scared too here in NYC. London will win

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