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Will bank bonuses ever return to previous levels?

As we see Goldman Sachs attempting to understate employee bonuses after announcing figures for the latest quarter, there is a feeling that slowly but surely both US and UK banks are reverting back to norm. At the moment it is well-known that the US government and the UK government have asked their respective banking industries to go easy on bonus payments as a means of placating US and UK taxpayers who have funded the industry to an enormous level.

Slowly but surely we will see banking bonuses creep higher in the medium to longer term because many people believe that the financial sector is more powerful than the vast majority of governments in the developed world. Governments around the world have created a monster which is the worldwide financial sector and unfortunately very few if any are able to tame the beast.

Such is the dependence of the worldwide economy, and each and every developed economy in the world, upon the financial sector that only short-term issues will be addressed and ultimately the sector will look after itself in the medium to longer term. While governments around the world will disagree with this statement, the financial sector is a beast which will ultimately prove impossible to tame!

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