Ken Feinberg is reviewing bank bonuses, sure. That might be something to worry about if you still have TARP funds on your books, and maybe even worth paying attention to if you don’t; if Lloyd Blankfein approached him to get a tentative OK, that probably means everyone should bow and kiss the ring a little bit. At least in the US, that is. Elsewhere, not so much. FT reports that in Asia they’re partying like it’s 2007:

But after listening to the regional heads of large Wall Street and European firms extolling the virtues of fast-growing economies, speaking admiringly of bulging “deal pipelines”, and spouting clichés about the “world moving east”, one does wonder about the short-term memory of some financial wizards. All the talk in the glass-clad skyscrapers overlooking Hong Kong’s magnificent harbour was of the princely pay packages commanded by star bankers moving firms. In a week in which Kenneth Feinberg, the US “pay tsar” announced a retroactive probe into the compensation of Wall Street executives during the crisis, Asia’s financial titans could not stop swapping stories on the size of the bonuses being paid to new recruits.

Some even tried to claim that the industry was showing admirable restraint by limiting “guaranteed bonuses” – an oxymoronic ruse to lure coveted bankers – to “just” one year instead of the two or three popular before the crisis.

No sir! No wage inflation or rampant credit growth here. (And definitely no construction loans secured by nature preserves that are not economically viable.)

When I was reading it, my thought was “Does that make all of Asia first-world now? Because saying ‘My guaranteed bonus is only good for one year’ is a total first world problem.”

What this means, of course, is that this is the perfect opportunity for me to take a moment to blatantly shill my latest creation, a site dedicated to First World Problems — which, you know, all these bonus calamities are — and invite y’all to contribute your trials and tribulations.

(That’s the second iteration of the logo. The first had the $SBUX mermaid in the center but I’m trying not to get sued, here.) Whether you’re emo about some of the things we’ve recently highlighted like the inability to shop on Sundays in Bergen County or the unavailability of seats on that chopper that will take you over the Hudson, or maybe you’re still ashamed to pick the kids up from school in your Bentley because it remains gauche in your ‘hood to flaunt your wealth, or perhaps you got a little too much foam in your latte this morning and that makes you farty and bloated — click on the green circle up there and tell us, because we care.