Why is Geithner Lobbying EU on Behalf of Hedge and Private Equity Funds?

Why is Geithner Lobbying EU on Behalf of Hedge and Private Equity Funds?

A war of words has broken out between the Treasury Department and the EU over proposed EU financial services regulations. The first salvo in this dispute occurred earlier this week, when, as reported in the Guardian, American banks were excluded from the sovereign bond market, which means new issues (they obviously cannot be prohibited from making secondary trades in an OTC market). This is seen as punishment for their role in helping various states evade EU rules on deficit spending via using currency swaps. But as the Guardian noted, the EU increasingly has broader concerns about the appropriateness of an Anglo Saxon finance model that looks predatory:

http://www.nakedcapitalism.com/2010/03/why-is-geithner-lobbying-with-eu-on-behalf-of-hedge-and-private-equity-funds.html