Lunchtime Links: Does this mean all the US private equity professionals will migrate to the UK?

While the UK is using the tax system to oppress bankers earning bonuses larger than 25k, the US is preparing to punitively tax its private equity professionals. According to the Wall Street Journal (via Clusterstock), Obama has revived the notion of taxing carried interest as income instead of capital gains. This would up the tax rate to 35%, from 15% currently.

In the UK carried interest is currently taxed at 18%. Does this mean we're likely to receive a flood of US private equity tax exiles?

Four directors at Paulson Europe took home nearly 50m last year (Telegraph)

Why not design a limited-liability model, where bankers become personally liable for the cumulative amount of their bonuses? (Financial Times)

Credit Suisse has upgraded Bank of America. (MarketWatch)

Meredith Whitney lowers profit estimate for Goldman for the second time in a month. (American Banking News)

Goldman's getting into ETFs. (Wall Street Journal)

The Bank for International Settlements is concerned about a resurgence of excessive risk taking. (Financial Times)

Citigroup executives refusing to go quietly over withheld severance payments. (Financial Times)

The secret to making big bucks at Citigroup. (DealBreaker)

Hays says recruitment in the City, healthcare and education is offsetting recruiting weakness accounting, finance and construction. (Financial Times)

SWIP hires another person in fixed income. (MoneyMarketing)

BHF bank is expanding its equities business. (Bloomberg)

Meet the $19bn woman. (Observer)

The emotional problems of the super rich. (Spiegel)

Google phone to replace human soul. (Daily Mash)