The Silly Season
The summer is traditionally ‘the silly season’ for news stories. This summer appears to have been no particular exception as far as coverage of the global banking sector has been concerned. My eye was especially caught by a clutch of stories from the United Kingdom. Let us begin with the news in July of a new scheme suggesting that bankers’ bonuses could be clawed back up to seven years after they were awarded. The current regime sees such bonuses deferred for between three and five years.