The Wall Street Journal has a good snapshot of the banking heads who won’t be getting bonuses this year.
Of course, their minions are losing out too. Morgan Stanley, for instance, will cut compensation for its top 35 execs by about 65 per cent — UBS has already done something similar. In any case, it’ll be a sad Christmas for Wall Street — but potentially a much sadder one for the masses who never got $10m bonuses in the first place.
_____
