Financial bonuses

Long time, no post. Here is a financial one: Vince Cable (LibDem UK) on bank bonuses. Many many people would subscribe to these rules. That is not the problem. Politicians will say: if there is multinational agreement on these rules, let's apply them. The very moment when one important country decides not to go for them, then it's war. War many centuries ago was about having a fleet of ships with cannons, then it turned into air force, then into nuclear weaponry. Nowadays, it's a financial war. For example, reams of paper being written about artificial devaluation of the currency in China. This is as close as a Cold War as it was two decades ago.

BBC - Peston's Picks: Lib Dems: Smaller bonuses, smaller City?

These are the highlights:

1) All bonuses over £2,500 would be payable in shares, which couldn't be redeemed, or pledged as security for loans or turned into anything spendable for at least five years.

2) No one on the board of a bank, not even the chief executive, would be eligible for a penny of bonus.

3) Loss-making banks would be banned from paying bonuses.

4) Every employee of a bank earning more than the prime minister - which Mr Clegg defines as circa £200,000 - would be publicly named.