Indeed, the indications are that periods of exceptionally high remuneration in finance worldwide have been periods of excessive risk-taking and eventual crashes. So it doesn’t really do to dismiss the issue of remuneration as something that doesn’t matter “in the large scheme of things”: it really does matter.
In the medium term we could also expect insurance companies and pension funds to play a growing role in the financing of the corporate investment. Due to their long-term liability, they may have a larger role in the development of bond markets. They would possibly be a more stable source of funding when compared to the highly cyclical patterns seen in bank lending.