Bankers should not be overpaid

Some banks and financial services groups are determined to hand out bonuses to those executives they believe are making money for them.

But in the UK, France, Germany and the United States, among others, governments are attempting to tax or restrict bankers' bonuses in the face of public outrage that institutions which — not so long ago — needed to be bailed out with taxpayers' money, are now rewarding executives with huge payouts. Bankers who created the international financial crisis through bad lending and risky business practices in the pursuit of a quick buck are also the target of popular anger.

Rewards for bankers must be restructured so that they are not encouraged to take unnecessary risks. A bit of humility and restraint is required from bankers until they are able to prove that they have earned their pay by making a sustainable contribution to the financial services industry and the rebuilding of the global economy.