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“Wall Street Bonuses to go way of Dodo” – Bloomberg

Article in Bloomberg predicts that governmental control of Wall Street firms could kill bonuses. Bad news for Greenwich real estate sellers, if true (and great news for buyers, of course – they’d no longer have to compete against people earning 10X more). Seems to me, though, if Wall Street ever recovers and starts generating huge profits again, those clever boys and girls will figure out how to share in what they’ve produced. Fine – I’d rather return to the old system than have Chris Dodd and Nancy Pelosi setting other peoples’ salaries. My personal choice, as though that matters, is the Swiss bank’s idea of paying bonuses in shares of what its bankers had bought. If the stuff proves profitable down the road, everyone prospers. If the stuff tanks, it’s Havemeyer Park for you, young man.

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