high finance and its malcontents, occult fantasies

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No, what does it say?

It says banks have been paying higher salaries to make up for lower bonuses, also that higher salaries are tougher to reduce in the event of things like poor performance.

The thing is, if that's true, surely it introduces some caution on the part of the banks? A reversion to a limitless bonus system seems as though it'll encourage the same recklessness that prompted its being dropped in the first place. Apparently some people were being handed bonuses of five, six times their salary.

Someone quoted claims there are new rules to keep tighter control this time around, but the industry's already proven itself untrustworthy and the rules seem as though they're only really there so individual banks can hang onto a bit more money.
 
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