As ever with the financial crisis, the Authorities in Europe are taking aim at the wrong targets. Today we can see the Private Equity and Hedge Fund industry being targeted for bonus payments like the banks.
Yet, the history of the crisis shows the Hedge Funds had very little to do with anything, the short selling crisis was made up; bank share prices fell more after the short selling ban. When it ended the share prices of banks rose!
However, a victim needs to be found, and the Eu authorities don't want the people to know that many of the problems are in fact regulatory failures; exploited by the Hedge Funds.
Also it so happens that this industry is in London, outside the Euro and with an incoming Euro-sceptic Government. A nice target to hit. The Hedgies are going to Switzerland; personally I can see benefits for the UK to copy the Swiss model of co-operation with the EU rather than membership if we are simply going to be targeted as evil Anglo-Saxons at every opportunity.