The banker pay cap was brought to limit the amount that bankers could personally benefit from the bailout and stop them from taking excessive risks. It limited base pay to €500,000 and taxed bonuses at 87 per cent.  The year was 2010. The Celtic Tiger era wasn’t long gone — a time when banking was risky, lightly regulated and highly profitable.  Now, it’s just the opposite. The banks are highly conservative, tightly regulated, and not particularly profitable.  The banks today have serious problems. But they’re completely different from the problems of 2005. And the banker pay cap, which was introduced…

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