Sophie Elmhirst at New Statesman:
One consequence of the financial crisis is the opportunity it offered London and New York to reinvent themselves. Their leaders could seek to re-create the booming, finance-dependent cities of the past decade, or imagine a new kind of city shaped by different priorities. Johnson has publicly made his choice, taking his strongest stand so far (apart from his war on bendy buses) in defence of hedge funds. His administration attempts to absolve the industry.
From a detailed comparison of the competing capitals and their respective mayors' responses to The Crunch. It's all here.
