Bankers Aand Their Bonuses

On Bloomberg this week, I have been writing about banking bonuses. What strikes me as interesting is how reluctant people are in that world to recognise that the world has changed. I suspect there is going to be a long slow period of adjustment where they realise that in the rest of the world you don't get a huge bonus just for doing your job and that when your company is bust you are lucky to get paid at all.