It is interesting to note that J P Morgan's bonus pool for 2010 was $28 billion and Goldman, who had an off year, had a pool of $18 billion. But were anyone to suggest that the German banks's €14 billion losses be paid, even if part, out of the bonus pools, they would quickly find out what is truly sacred in our world.

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'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty