Banker Bonuses – Shoot the Canary, Kill the Symptom, Treat the Messenger…

This article is pretty common. And stupid:

Investment banks, it seemed, were not being run in the interests of the economy or even of their owners, but for their staff. It was financial mutiny.

Bankers are salesmen. Just like Vacuum cleaner salesmen, jet engine salesmen and TV salesmen. If you’re selling a product that makes someone rich, they’ll pay you a big commission.

Bankers get rich because the people that buy their products get rich buying them. Their wealth the symptom of something else. Find a way to cut the bonuses/earnings of fund managers today (my favourite idea: stop friggen bailing out bondholders, for chrissakes), and banker bonuses will collapse tomorrow.