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The Vic Daniels Column

The newspapers are full of England captain John Terry's alleged affair with the estranged lover of best friend, former Chelsea team-mate and ex-nextdoor neighbour Wayne Bridge.

Firms Get Tough On Bonus Clawbacks / Relaxed On Restricted Stock

Hand over Money

The Wall Street Journal reports that JPMorgan Chase has now tightened its bonus clawback provisions to include any employee who is found to have taken on excessive risk, and any staff member who did not whistle-blow on bad risk taking. The newspaper also reports that Morgan Stanley has now revised its bonus clawback terms, enabling it to reclaim bonuses for 3 years in the event of subsequent realizable losses.

Calls Grow For Banker Pay Curbs / Splitting Up Big Firms

The Times reports that Mervyn King, the Governor of The Bank of England, told the UK Treasury Select Committee Tuesday that bankers need to take permanent pay cuts and allign their compensation more closely with that paid to those who work in other professions.