The continuing discussion on banks and bonuses seem to shift between the need to attract and retain people and not upsetting taxpayers who have bailed the banks out.The discussion must have been made more complicated by Barack Obama deciding to restrict bonuses.

In the UK the banks in question are RBS and Lloyds TSB but one must presume that others such as Barclays and even HSBC will be looking at the result with interest.

Could this be the start of moderate salaries and reduced bonuses accross all sectors?