Financial Industry Dominance Ping Pong

I have talked about the perverse rivalry between New York and London for dominance as a global financial hub. It's perverse in that neither decisively improves it's competitiveness, supremacy is achieved by cocking it up the least. It appears that it is now London's turn to cock it up, and New York may score a big one as a result. If you lose this round London, not to worry, we'll fumble the ball sooner or later.