Well all those regulators will manage to accomplish is to stagnate their own financial centers and lose out on changes in the financial services industry. The

Well all those regulators will manage to accomplish is to stagnate their own financial centers and lose out on changes in the financial services industry. The city of new York supplanted the City of London as the worldwide financial powerhouse very early last century. This was partly (though not primarily) due to regulatory environments in the City of London to protect entrenched interests, thus putting them behind the curve and allowing this new, innovative city to take momentum in the financial industry. As the financial industry changes rapidly, particularly as it democratizes, we will see less influence from these behemoth financial centers, but anything one of them does to try to hinder these changes to protect itself will only accelerate it's demise within this industry. New York is making one of the mistakes the City of London did in the 20th century and it will pay for it.