Bonus madness

Why would anyone take a senior job in a UK bank right now? Not for the money. The criticism of bonuses is too intense for that. The attacks have become indiscriminate. It’s reasonable and just to be against bumper rewards for failure, but the opposition Conservative party is now calling for £2,000 caps on all bonuses in any bank that has taken taxpayer money. The ire was aroused by reports that Lloyds is planning £120m of payouts. But that is a modest sum spread out over some 70,000 employees, w...