The article is for subscribers only, so a heavily summarised version follows in bullet points below.
The third point is the most interesting - the populace may well cry foul at the resurgence of the mega-bonus, but new pay structures should appease their indignation. The trick this year will therefore be to devise a pay structure which appears outwardly punitive, but in reality isn't at all (Credit Suisse's toxic asset scheme?).
· Banks earned huge amounts trading debt in the first quarter. This looks set to continue. Goldman is on track to match the revenues it made in 2006.
· Banks are paying back TARP and escaping related pay shackles.
· By pointing out that they're spreading payments over several years and adding clawback clauses, organisations will be able to make $10m payouts seem more acceptable.