Poll: 67% of wall Streeters expect bonuses this year And one in 10 said they expect this year's bonus will be at least 33 percent higher than last year's - those are definitely the ones pricing houses here in town.
Sadly for them (and for those of us who like to sell houses) there's this from today's paper:
Wall Street pay expected to plummet And those bonuses they do receive will be stock shares, not cash. Big whoop. Here's a sobering thought:
In previous lean years, Wall Street banks justified large payouts by arguing that top employees would flee for higher-paying jobs. But with tens of thousands of Wall Street jobs disappearing, that argument may no longer hold. “Where are people going to go?” one senior banking executive asked.A friend tells me that he had dinner with a Wall Street head hunter last night who told him that her CEO and his next in command were let go last week. According to her, we haven't even begun to see the carnage that's coming. Whether she's right or not, it's beliefs like hers that have frozen this market.
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"All you need in this life is ignorance and confidence; then success is sure."- Mark Twain
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