[Maarten88]

What should the consequence be for bankers who take too much risk, their banks' failure spreading to the wider banking system, sending the economy into a recession and millions of people into poverty?

Consequences (claw back) is the least that should happen, but it doesn't help the victims and might still incentivize short term risk taking (I win vs you loose). The solutions that the article offers (only allow long term incentives, include the interest of the entire banking system) might actually stimulate better risk-taking behavior. The real economy is slow, bankers' incentives should be too.

[s1artibartfast]

There should be no consequences. They should simply carry insurance for to make investors whole.