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But since the bailout, the rules of banker pay are bending.
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We've also introduced the toughest rules on bankers' pay of any major financial centre, hardwiring responsibility and accountability into the financial system".
The UK has some of the toughest rules on bankers bonuses.
New rules on bankers' bonuses and the amount of capital that banks must hold as a buffer have been approved by the European Parliament by a big majority.
Countries are imposing rules on bankers' pay to prevent a repeat of the excessive risk taking that they say contributed to the global financial crisis.
They hoped other countries would implement similarly tough new rules on bankers' pay, as recommended at the meeting of G20 countries in London in April.
HSBC has given 15 of its top bankers "fixed pay allowance arrangements" worth £7.1m under a controversial new pay scheme designed to dodge tough new European Union rules on bankers' bonuses.
By the same token, many commercial banks have signed up to the Equator Principles, a set of ethical rules for bankers that enshrine respect for conservation.
These kinds of rules are unpopular with the risk-taking type of banker, because they tend to make banking less profitable.
BRUSSELS — The British finance minister, George Osborne, is expected Tuesday to urge his European Union counterparts to water down proposed rules restricting the size of bankers' bonuses.
NEW YORK TIMES Bain Capital Ventures Has Added New Partners | WALL STREET JOURNAL Britain to Challenge Brussels Over Bank Pay | "The British finance minister, George Osborne, is expected Tuesday to urge his European Union counterparts to water down proposed rules restricting the size of bankers' bonuses," The New York Times reports.
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CEO of Professional Science Editing for Scientists @ prosciediting.com