The banks have got us by the capital

Bankers have sailed out of the 2008 credit crisis storm largely unscathed, despite the billions paid in fines. As regulators are discovering, the too-big-to-fail banks are now more powerful than ever.

There was a very nice cartoon by Matt Pritchett in the London Telegraph the other day that neatly summed up European bankers’ contempt for the bonus restrictions they are supposed to be operating under.


Graph for The banks have got  us by the capital

The cap on bonuses in Europe to 100 per cent of salary, or twice that with explicit shareholder approval, is a bit of a joke really: there are even official ways around them, let alone Matt's umbrella hunt.

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