Move more of world finance into New York? Not when we can tax and regulate!

New York and London have long competed to be the global capital of global capital. With plenty of business to go around, the competition has usually been friendly; now, as the West’s financial industry shrinks, it could become fierce. London is already stumbling in this race, giving New York a golden opportunity to pull ahead. But instead, our politicians are sacrificing growth to higher taxes and bad regulations, just as London is.