Wall Street Bonuses Don't Look Good this Year

The global credit crunch has had perhaps the biggest impact on investment banks and hedge funds. Many investment banks are due to report earnings this week and the extend of the damage will become more clear. But as the stock chart for Goldman Sachs shows, the market has already hit investment banks. Bear Stearns is predicted to take the biggest hit since they had the largest exposure to sub-prime mortgages and mortgage backed securities.

It stands to reason that Wall Street bonuses won't be nearly as large this year as last year's. One has to wonder what impact that will have on New York's inflated real estate market.