We're No. 3! U.S. slips behind Australia in financial development


Wall Street's Masters of the Universe might want to trade in their power ties and suspenders for Crocodile Dundee vests and Wallaby hats.

The U.S. has slipped behind the U.K and, yes, Australia in the rankings of global financial development, according to the World Economic Forum's just released "Financial Development Report 2009." In addition to throwing swanky parties in Davos, Switzerland, for the most powerful people in the world (cough, Bono), the World Economic Forum likes to assess and rank and rate things. (And how. Just take a look at the full report here.)