On Dec 14, 2008, at 1:03 PM, Jenny Brown wrote:
> Schumer, according to this article, often raises the specter that
> some European capital will take over from NYC as the center of
> finance if Congress does pass whatever deregulatory measure he's
> flogging. Was there really such a competition or is this pure
> bullshit? My impression is that the U.S. was leading that race to
> the bottom.
There was a lot of talk during the boom about London eclipsing New York, in part because of looser regulation. So if you accept their fucked premises, there was something to it.
Doug