Vince Cable has issued a stark warning to Britain's leading boardrooms that they need to crack down on bonuses to restore public trust and avert the threat of fresh legislation to limit executive pay.
After years of denial central banks are finally coming around to recognise that they must take responsibility for asset bubbles that can wreak economic havoc.
Looking back, it was easy to see that the crash was coming.
Five years on from the start of the financial crisis there are still banks that are "too big to fail" and governments around the world must do more to reform the financial system, a top Bank of England official has warned.
One of the architects of the EU's cap on bankers' bonuses has called for the UK government to be sued for allowing banks to sidestep the new rules as two more high street banks were preparing to hand their bosses up to £1m in extra pay to avoid the clampdown.
"Dear shareholder, this new EU law capping bonuses is silly so we've decided to exploit the enormous and very obvious loophole. Stuff Brussels: we're not paying ourselves less. Your co-operation in this matter is greatly appreciated."
Ross McEwan may work in the same oversized office that used to be occupied by Fred Goodwin, but the bank he is running is already markedly different from the global empire that the disgraced Scottish banker built up before it collapsed into a £45bn taxpayer bailout in 2008.
The bosses of Britain's biggest banks are on course to be awarded millions of pounds in share payments to circumvent a Brussels-imposed bonus cap – a move that risks inflaming the toxic row over City pay deals.
British savers could suffer a £3.6bn cut in the value of their savings following the introduction of a financial transaction tax, a study into Brussels plans to raise a levy on City trading has claimed.
Mark Carney has stepped into the row about bankers' bonuses with a demand that a large chunk of the pay packages for senior staff should be deferred "for a very long time".
Senior bankers will face up to seven years in jail if they are found to have committed a new offence of reckless misconduct being proposed by the government as part of a series of measures to clean up the City in the wake of the 2008 banking crisis.
The guys at the top really haven't a clue.