> I'm not particularly convinced by the arguments for the necessity of these bonuses (at least not at this magnitude) Constraining bonuses like this is only ac

> I'm not particularly convinced by the arguments for the necessity of these bonuses (at least not at this magnitude) Constraining bonuses like this is only achievable via collective action. Top performers in highly leveraged positions really do generate outsized returns. There are definitely people in certain positions who "take their margin with them" and so firms compete by offering that individual a higher percentage of the margin they generate and the nature of markets mean anyone who doesn't compete "loses". You need a collective action mechanism (government) and the only solution we've ever seen in practice is a high marginal tax rate. Companies are less willing to pay exorbitant sums being taxed at 94% and individuals fight less for them.