Wall St. in Danger of Losing Its Crown as King of Finance

Remember that Abraham Lincoln spoke of life, liberty and the pursuit of happiness. He left out the pursuit of profit.

Unfortunately you left out the most impoprtant problem---GREED! That is what caused the failure of our markets. So we are loosing a greedy bunch to other countries---goodbye!

The financial markets and institutions will be attracted to favorable tax and political climates. The poor business climates created by the democrat party have been a disaster. Michigan is a good example. The democrats have pretty much controlled the politics in Michigan for the last 40 years (with the help of some foolish republicans). The democrats can not accomplish their socialist and anti-business agenda without help from republicans.

reason enough to lose that crown was bilking trillions from the world in selling worthless mortgage paper rubber stamped as AAA by the ratings agencies they payed off. And Wall Street is so well managed, they would all be bankrupt if me and 300 million other Americans didn't backstop them and make them liquid -

Until our legislators and President and attorneys-general and other governmental agencies intended to protect the honest from the greedy predators who control the market take immediate and rigorous action to change the market to the "open, fair and (truly) free" that they advertise it to be, nothing significant is going to happen---we investors along with others who support entrepreneurs who oil the free enterprise system will continue to be the sitting ducks who the government-enabled predators feed on!!!

Good riddance,need to clean house in washington, and new york

This article is less than perceptive. Lack of regulation that assures honesty in dealings is a major problem in the U.S. markets. We are not much better than a 3rd world backwater in some cases. On the flip side are regulations and manipulation by the U.S. government to fix the markets for the big players. Also similar to a 3rd world backwater. While I agree that business is going to move out of the U.S., there are more possibilites than mentioned here. Commodity trading moving to Dubai is an obvious one. The West is handing them the business on a silver platter. As for the arrogance about traning a lot of MBA students that have gone back to their country of origin and how this is a loss to the U.S. - give me a break. These are the people that screwed up Wall Street. The less of them here the better. God help the countries they went back to. - Organizer, New York Investing meetup

I find it hard to understand why a company would hire a CEO, with a guarenteed 15 million signing bonus then he quits a week later. Maybe someone can explain, how AGI can have so many people with bonuses, for making a mistake and then are paid another Bonus, on an already finacially strapped population? Un-Employment figures are wrong !!! They only state New people on unemployment, Not the others who can find an6y work at all and are going into finacial ruin, while others are recieving huge bonuses, for being GREEDY. Take the blinders off already...

F**K New York. We have gone from a country than actually makes (and grows) things to a F.I.R.E economy (Finance, Insurance, Real Estate) that produces nothing but pieces of paper that represent phony (inflated) value. The "brilliant" economists and financiers decided that we're "above all that manual labor" and sent those jobs overseas to "developing" countries. It was sort of iconic on 9-11 when all that paper was floating around the city after the planes hit the buildings. Welcome to the "New new economy". Try eating that paper when unemployment hit 25 %

F**K New York. We have gone from a country than actually makes (and grows) things to a F.I.R.E economy (Finance, Insurance, Real Estate) that produces nothing but pieces of paper that represent phony (inflated) value. The "brilliant" economists and financiers decided that we're "above all that manual labor" and sent those jobs overseas to "developing" countries. It was sort of iconic on 9-11 when all that paper was floating around the city after the planes hit the buildings. Try eating that paper when unemployment hit 25 %

This came out just this morning: "Record trading helps TD Ameritrade beat the Street". I told you this would happen: "jcamel77 - Thursday July 02, 2009 04:28PM EDT I hope you all loaded up on bank shares today because they are going to skyrocket when they report Q2 earnings. Here's why... Stock sales in May made the month the most active in 10 years and stock sales = profits!" Anybody else follow my recommendation and make nearly 20% in 2 weeks?

America's path towards socialism started in the 60s when welfare was implemented. Our society is in moral decay, our public schools at the hands fo Liberals & NEA are failing to properly educate our young - Google where our nations stands on math in comparison to other industrialized nations and you will see what I mean. Like the Romans, we have become the victims of our own success and affluence and as I view the younger generation I can't help but notice that the work ethic that made this country great has all but been dimished and replaced by an attitude of entitlement. California is already a Banana Republic - not even 3rd world countries use IOUs to pay their bills! The rest of the nation in the hands of this current administration and congress will soon follow.

America's path towards socialism started in the 60s when welfare was implemented. Our society is in moral decay, our public schools at the hands fo Liberals & NEA are failing to properly educate our young - Google where our nations stands on math in comparison to other industrialized nations and you will see what I mean. Like the Romans, we have become the victims of our own success and affluence and as I view the younger generation I can't help but notice that the work ethic that made this country great has all but been dimished and replaced by an attitude of entitlement. California is already a Banana Republic - not even 3rd world countries use IOUs to pay their bills! The rest of the nation in the hands of this current administration and congress will soon follow.

WALL STREET GOT GREEDY AND RIPPED OFF PEOPLE ALL OVER THE WORLD SELLING TOXIC ASSETS.Who can trust a den of vipers and thieves?Buy Gold/Silver and be safe.

Canada and america should be glad that the labour has gone overseas. You forget about the boomers - approx. 70 million workers over the next 10-15 years will be too old or too dead to work. If the jobs were kept here we would have the Great Labour Shortage of 2020 (give or take a couple years) and then we would see some serious inflation. We saw a glimpse of it here in Canada the last couple years because of the oilsands - huge labour shortages which caused the oil companies to pay ridiculous wages and even signing bonuses which trickled down to where the Burger Kings' had to pay $15-18/hr. for what would normally be a minimum wage job.

Just 3 financial centers? I think that's a little short sighted.

Kennedy gave us Apollo ... Obama has given us Apology Tours ... apologizing for America ... loathesome

It sounds very reasonable, since when have you seen a Socialist country as the leading financial hub of the world? I would rather put my financial affairs in a more secure area. Thank you Mr Obama.

Just keep electing socialist like obama who will print PRINT trillions of dollars for his socialism takeover...don't worry about NY.. with obama only socialism will exist... obama thee WORST president in history and RUINING American.... will spend 23 TRILLION DOLLARS.... WAKE UP

It will be extremely difficult to replicate trading systems in New York/US to any part of the world. Paeter is just feeding the machine that is engaged in transferring US investements/Assets to Asia. The first basic to remember is that Asia is not a freee market economy. HAving said that it is important to who benefits from draconian markets laws - the age old Bbritish system (I hope I did spring a suprise on a cozy tea party!).