It looks like all the defensive PR of the last few months is being replaced with some outward signs of contrition. Following last weeks bonus news…

Various reports have suggested that Goldman’s London partners will have salary and bonuses capped at 1 million pounds ($1.6 million) amid growing anger over bankers’ pay.

Since the pitchforkers were joined by politicians in the war on banks, especially President Obama, the earlier defiant stance of management seems to be waning.

In the US, Goldman Sachs, Morgan Stanley and JPMorgan all slashed their compensation in the fourth quarter. Over here, Barclays, the U.K.’s second-largest bank, plans to defer bonuses for top executives including Chief Executive Officer John Varley for as many as three years.

And Credit Suisse, the largest Swiss bank by market value, is trimming its global bonus pool by 5 percent to spread the cost of the U.K. bonus tax, with senior employees in London having their bonus pool cut by a further 30 percent from planned levels.

But it may be too little too late if they hope to stem the tide of regulation. Obama’s populist stance in the U.S. will be difficult to back away from and over here it has received support from George Osborne.

Let the lobbying begin.