"Panic, panic! New measures to tackle bankers bonuses men London may lose hedge funds....."
But this is the old paradigm shouting during its death throes. Hedge funds have not proven they add value. Nor has investment banking. If we aren't world #1 in either we might have to do something socially useful.
So let's get over this; let's not worry if we slip in the rankings; let's be delighted this reduces the uncertainty in our economy which has cost us all so dear; let's go and do real things.