Any thoughts on Blankfein giving his two pence on bonuses and socially useless activity?Goldman chief hits at ‘useless’ bankinghttp://www.ft.com/cms/s/0/ffb670be-9d33-11de-9 ... check=1The French finance minister recently said that:"We need to have a good and sound explanation among ourselves concerning what Basel II is about. It has been significantly improved, amended over time . . . and, as revised, I would have thought that addressed the issue" i.e. capital reserve requirements should stay as they are, and we should talk of limiting bonuses instead.Is it too cynical to think that Goldman just want Basel II left where it is so they talk of bonuses instead - after all Blankfein's comments on bonuses, that senior management should keep their stocks till retirement, is little more than Goldman's post-partnership ethos anyway.

Consistent with Taleb's comments re: sticking solely to liquid vanilla products due to erroneous stuff that goes into Exotics.....