Do you think that the financial reform legislation that was passed over the summer will help our financial sector be more competitive? For most people, that depends on where you live. In the United States, 48 percent of all executives surveyed by McKinsey expect the bill to be either somewhat or very negative with respect to the competitiveness of the U.S. financial-services industry. Only 29 percent expected the effects to be somewhat or very positive.
But in the rest of the world, it's a very different story. In areas outside the U.S., only 25 percent of the executives surveyed said the new law would make the U.S. less competitive. More than half thought it would make the financial sector more competitive.
Overall, 41 percent of the executives worldwide thought the financial reform was good for American banks. Just 38 percent thought it would be negative; only 3 percent saw it as very negative.
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