But even if the bonus-capping proposals don't end up etched in stone, the rift between the UK and its European neighbors will continue to grow -- especially if David Cameron's offer of a nationwide referendum on Britiain's membership in the EU materializes.

CNN: Would EU bonus cap spark banker flight?

While it's unclear how badly this new legislation will effect Britain, one thing is beyond dispute: capping bankers' bonuses certainly isn't going to have the world's brightest financial minds rushing into London.

CNN: Would EU bonus cap spark banker flight?

Congress has declared any notion of capping such deductions dead on arrival, but the White House hasn't given up.

CNN: Borger: Let's hear from Obama on health care