Mayor Bloomberg, Now Is the Time to Poach Business from London

New York and London have fought for financial industry dominance for decades. Congress ceded New York's advantage with the ill-considered reaction to Enron called Sarbanes-Oxley. London laughed at us and stole huge chunks of business and numerous jobs from NYC, to begin a brief golden period of financial dominance. Now is the time to strike back, Mayor Bloomberg. London is self-destructing as a financial hub. There is significant business and that can be brought back to the Big Apple along with desperately needed financial sector jobs. But it won't fall into our laps, we have to grab it. New York has to structure an incentive package of tax breaks and goodies to entice business and job relocations from London. It doesn't have to be a give-away, people understand they have to pay taxes, but the punitive levels of taxation that the UK has just imposed are too much. Give them an attractive yet fair tax package as a reason to come to New York. Do it. Do it soon.