City Expects Wall Street Bonuses To Plunge Over 50 Percent
View Story On One Page
Print This Story
Share This Story
November 21, 2008 | 3:28 p.m
Hold on to your hats, ladies and gentlemen, Wall Street bonuses are headed for an epochal fall. According to estimates from the city Comptroller’s office provided to The Observer today, year-end bonuses will total $14.5 billion for 2008, an over 50 percent drop from 2007, when $28.9 billion was paid out to Wall Streeters.
Of course, the figures are merely an estimate for now, but the low projection jibes with the bleak year in finance, one that saw the collapse of the financial sector and the dissolution of two of the biggest investment houses: Bear Stearns and Lehman Brothers.
The reduced bonuses will affect everything from luxury retail to top apartment trades. Expect a much quieter 2009.
- More:
- Real Estate |
- 2008 Financial Crisis |
- luxury housing market |
- The Real Estate |
- Wall Street |
- Wall Street bonuses
David Letterman's Alleged Blackmailer Headed to Court; Sources Say Halderman Intent on Trial, Raising Money For Defense 
Arena Hardball 
Scotiabank Leaving Lower Manhattan? 
Planned Extell Skyscaper Faces Landmarks Test Over B.F. Goodrich Buildings 
Box Office Breakdown: No Lumps of Coal for Christmas, Precious Explodes 
Two Against Valesky 
Paterson's Speech: 'We're Running Out of Money' 
SoHo Properties Buys Chelsea Building for $45.7 M. 
