Bonuses: call the tune

The outrage over supersized banker bonuses has barely died down but the stage is already being set for the return of the mega-payouts. It’ll feel icky and almost surely reignite the fury of taxpayers and lawmakers. This time around, however, the banks should be in a better position to defend against public scrutiny. Start with revenue. Despite the upheaval in the industry, many investment banks managed whopping fees from trading debt and arranging capital hikes in the first quarter, and are con...