Anyone who thought a Conservative government might be more relaxed about people becoming filthy rich than a Labour government, may have to think again. The Financial Times says George Osborne has been telling the Association of British Insurers that all banks should avoid paying big bonuses, even if they haven’t received money from the state. It also cites a 'Tory insider,' who says a Conservative government would 'come back' to the bonus issue if the FSA isn't tough enough.

Osborne’s invocation follows an article in the New York Times earlier this week, claiming that the Obama administration wanted to restrict bonuses at all banks – not only those receiving TARP money. However, Bloomberg reports today that banks repaying TARP will be free of all related pay restrictions. Needless to say, this is likely to be good news for Goldman, JPMorgan and Morgan Stanley and bad news for BofA/Merrill and Citi(group).

Osborne will bash private equity too. (Pestowire)

Who’s repaying TARP, and who’s not. (Reuters)

The best-performing big banks are Goldman Sachs Group and Morgan Stanley. (DealJournal)

Let Citigroup fail? (Wall Street Journal)

Barclays hires Merrill’s Asian power team. (Wall Street Journal)

Nomura hires Merrill’s head of French and Belgian FIG. (Financial News)

SEC may force shareholders to vote on banks’ executive pay. (Bloomberg)

Should all banks pay like Nomura in Japan? (Financial Times)

Sarkozy’s plan to muscle in on the City. (Independent)

I can’t make it to work, will I get paid? (Telegraph)