hmmm .. I seriously hope so ..
but on the other hand this is a complete joke isnt it ...???
Even after the crisis things wont change.. here are some of the reasons
how many brouses around the world have you seen going against the Dow Jones trend??
By what %age does global commodities change in Asian/ European trading +- 2% ,
where the same in US trading can change like 10% + on a single day. why?? Asians dont like Gold/Crude/Rice/Wheat is it??
US still calls the shots and everyone follows. Thats been happening for a while and will happen for a long while. All these regional demand, powerhouses is a dumb concept. Japan, Europe, the BRICs whoever we combine together have no clue in terms of taking bets or assessing what price u need to pay for what .. we always look towards the fatherland/ uncle Sam for clues so that we can blame someone when things go wrong
Mr. Steinbrueck dint you see German banks losing billions in US housing market ?? what were you doing then buddy .. busy bailing out them?
I personally believe the hi-flying days of wallstreet are over .. though Paulson is trying very hard to not affect executive compensation, people will generally not pay high for investment banking services. But still US will set the pace of the broader industry (asset management, hedge funds, PE, VC blah blah blah) .. others are just followers .. mere followers who just dont have the guts to take bets , but have the guts to take on what the US bets and go under water coolly.. (esp the countries in the 2nd and 3rd positions like Japan and Europe .. compared to the likes of China/India etc)