Express your opinions on bonus reform

Having benn in banking for over 30 years I am appalled by the 'me' and 'greed' culture that is the culture of today.

It was obvious even before the credit crunch that the bonus environment should be overhauled. Far too many so called Bankers demand a bonus for doing nothing more than there generally very good salary already demands from them, on top of which they get good perks. For these types and of which there are many and if they get a good review let them have a share of the profits, so it is what it means a payment based on collective performance. For the real revenue generating stars or the real ideas people that make a mockery of targets then they generate a bonus, or out of the ordinary payment that is held on escrow for acertain period to ensure they do not sell their soul to the highest bidder and indeed that the following year their trading or idea does not generate a stinging loss.
Banking has to fall in-line with other businesses and rid itself of shortism and aim to create longlasting value with proper business plans. Not easy in the Investment Banking I know, but what we face in heavier regulatory controls will mean that is more likely

Boutique banker: Thank you for pointing out the flaw. We've amended it.

I have to say that I find all the comments on this site very interesting. Now let us all think of ways how we can solve this diabolical situation. My thought is get rid of useless, excessive, self indulgent bankers/investor and we can start to repair the damage.

Why are all of these American Financial Service Sectors collapsing? Do we beleive that the American Regulators (SEC)should themselves be investigated considering the massive fraudlent trading thats been taken place over the decades? Why are these fraudlent matters now coming to light? And who shall we now truly blame? Should the americans now reform their regulator services?

In my view, it seems thats what needed to be done. I know I have asked quiet a few questions here. But I just have not the time to write a well structure article. And most importantly, I just wanted to know all of your thoughts.

bankers are parasites and no bonus should be given to any bank that has gone begging to the taxpayer. surely the low iq bankers should understand that when a bank makes a loss, then no bonus can be paid by the taxpayers monies.

I have only worked in trading part of the banks. In this part people work usually from 8am-5pm. "Arbitrageurs" (if arbitrage still exist) do not work that much. The job is basically to claim that whatever the market you'll be OK but in fact for all kinds of "quantitative arbitrage" the bank takes bigger and bigger views on "non hedgeable" parameters. If that view is good "Arbitrageurs" make millions and think their work should be rewarded millions, otherwise the baks fails and they want to be rewarded! All of this is a lot of luck and should be rewarded with care. We have seen how in November arbitrage rules did not work anymore (shart selling forbidden, unability to fund for more than 1D) .
Interestingly those who made a good year in 2008 (even in CDOs & MBS) were those who undertood that models are wrong and the market is right. They took the model sensitivities and put them into prospective with the market to get the best of both, in that sense they were not entirely "arbitrageurs" anymore but took a rather small view that market would certainly collapse balancing market risk with "unhedgeable market risk".