Wall Street workers finding it difficult to get by, or so they say
(NEWSER) - Wall Street bankers received smaller bonuses this month, and it is really hard for them. If you're having trouble dredging up any sympathy, perhaps that's because you just don't understand what it's like to be in the 1%: "People who don’t have money don’t understand the stress," one Marks Paneth & Shron partner explains. "Could you imagine what it’s like to say, 'I got three kids in private school, I have to think about pulling them out?' How do you do that?" Bloomberg says that cuts to 2011 discretionary pay were at least 25% at Goldman Sachs and Barclays and that cash bonuses were capped at $125,000 at Morgan Stanley, but the New York Times says bonuses have been "merely bruised," and that total payouts are predicted to drop just 14% this bonus season. More fairly unbelievable tidbits from Bloomberg's tales of woe: More»
