Bankers in Europe face a cap on bonuses as early as next year, following agreement in Brussels on Thursday to introduce what would be the world’s strictest pay curbs, in a move politicians hope will address public anger at financial-sector greed.
It might be — just might be — the public hates banks and bankers because we all know they’re all Too Big To Fail. The bonuses are bad enough, but the real problem is it will be pretty much the same wired-in bankers controlling the same wired-in banks, while giving and getting mutual back-scratches from the same wired-in politicians.
If the bankers have to have their bonuses capped? That’s a small price to pay for being the “private”-sector half of the soft fascism ruling Europe these days.