To the American banks this did not seem fair. In response their industry lobby pushed hard to level the playing field. In February 2007 New York mayor Michael Bloomberg traveled to London, where he met with the chair of the UK’s FSA, and used the London platform to lobby for further deregulation in the United States. “The FSA is an example of the kind of streamlined and responsive regulatory framework Congress must implement if New York City is to remain the financial capital of the world,” the mayor intoned.
