Torrential reign

It never rains but it pours. International negotiations over the best way to regulate banks and financial markets continue, but bankers had better be prepared because much of what has been discussed in recent months will find its way into

Making bankers pay for their exuberance is popular and the political pressure for reform is unlikely to abate despite hopes in some quarters that the slowly improving global economy will dampen the reform fervour.

In Europe, France and Germany have led calls for action against bank 'excesses'. French president Nicolas Sarkozy wants to cap bankers' pay and bonuses, and German chancellor Angela Merkel says big banks have too much power and cannot be allowed to blackmail governments. UK prime