Bust! Wall Street Bonuses Down 44 Percent; Real Estate To Feel It

Wall Street year-end bonuses dropped 44 percent from 2007 to 2008, according to a report out today from State Comptroller Thomas DiNapoli. The reasons? You know them. For one, a couple of the I-banks that were around to issue bonuses at the end of 2007 were not around at the end of 2008. Whatever the reasons, the sharp decline in bonus totals spells difficulty for several sectors of the city's real estate market, which has been reeling since at least last summer.

First, the take-away from the report:  read more »

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