The fact is, the World looks to New York for guidance as it relates to financial and banking regulation
Yeah, no. World doesn't.
In fact, most of the world looks at US to see how NOT to do regulation...
Yes but most finance of the world is in the US, so you have no choice but to pay attention. For example, the total market cap of the NYSE and NASDAQ far supersedes that of every other stock exchange in the world put together. Its not even close.
If the US economy takes a hit, the world economy takes a hit.
This is why Wall Street banker, trader and fund manager types are commonly referred to as "
the masters of the universe."