Banker bonuses back in the headlines

Regulators push for more control over banker pay gets a shot in the arm from the House Financial Services Committee

Calls for a curbing of the city bonus culture seem to have fallen on deaf ears, as banks award record bonus payments despite posting record losses. Although Goldman Sachs and JP Morgan can quite rightly argue that they have had a successful year and should reward their employees, the argument falls down when Citi and Merrill Lynch, two of the biggest losers in the financial crisis, also post multi-million dollar bonus awards. Clearly the politicians are wrong in thinking the industry will be