New story from The Wall Street Journal published by Mortimer Goth August 27, 2009

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A Capital Idea for Bank Bonuses

President Nicolas Sarkozy stands little chance of persuading other Group of 20 leaders to back his calls for caps on banker bonuses. That doesn't mean the French leader's concerns should be dismissed as another example of European antipathy to capitalism. Excessive bank bonuses do present risks for the system. But rather than imposing straight pay caps, a better way to start tackling the problem is to force banks to hold more capital against trading books. More: http://tinyurl.com/compensation93