• Chris Dillow explains bank bonuses:
  "Traders must be bribed not to plunder the firm. If you don’t pay them millions, they’ll sell the banks’ assets cheaply to rival firms for which they then go and work. They are paid fortunes not because they have skill, but because they have power."
• The UK connection: will Brown be left behind?
  The Observer's Heather Stewart says Obama is way out in front in responding to recession
• Simon Caulkin on bonuses
  They just don't work, and nor does performance related pay.
• Turn failed banks back into mutuals, Labour told | Business | The Observer

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