The cry has gone out that New York City is getting screwed as a financial center, and losing its number one position to the City of London. Most of the rage from Mayor Bloomberg and Sen. Chuck Schumer is around the Sarbanes-Oxley Act. It created extra reporting requirements and extra accountant bills in te belief that this would forestall another Enron type disaster.
More on real crash.
Admittedly, Sarbanes-Oxley is not really that hot stuff. How can it stop another Enron, when the whole system itself is geared to produce son-of-Enron and so on? Read the crying politicians (link)..
This is the latest in a series of studies by the McKinsey Co., commissioned by Mayor Bloomberg of the City of New York on why New York is not quite getting its piece of the pie in the huge worldwide financial bubble. The answers go much deeper and hit on certain historic factors. Like New York is in the United States, and London is in the British Commonwealth (Empire).
Of course the chain of these New York City guys coming from Lehman bros. is the dead giveaway (wink).. They would like to get rid of the vestiges of the American Economic system for the General Welfare, and replace it with the British system of survival of the fittest, and the money people rule all. Of course, joining the thieving fun at Lehman is none other than master thief and former big Mac (Municipal Assistance Corporation) chief, Felix Rohatyn.
