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November 23, 2008 4:15:44 CST


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 Tough Market Greets 
 Bear Castoffs 

Takeover sends bank employees looking for work on post-credit-crunch Wall Street

(Newser) - Thousands of Bear Stearns employees face uncertain futures after the investment bank's takeover by JPMorgan, and they’re entering a Wall Street beset with problems and bereft of jobs, reports Reuters. "They are coming into a market at a time when Wall Street doesn't offer much opportunity," one analyst said. Of 26 top executive positions at JPMorgan, only five went to Bear employees. More »

More about:  Bear Stearns JPMorgan Chase unemployment Options Group

Wall Street Bonuses In for a Fall

Extra pay could drop in half for some senior bond traders

(Newser) - Wall Street's multi-million-dollar bonuses are likely to take a hit for the first time in five years, with extra pay dropping in half for some senior sellers of mortgage-backed securities, according to the Wall Street Journa l. Traders in stocks and commodities are expected to do better than those working with bonds and mortgages, reflecting the subprime crisis. More »

More about:  Wall Street subprime mortgages Citigroup Merrill Lynch mortgage backed securities bonuses compensation Options Group

Wall Street Bonuses To Sink

Market crisis hits paychecks

(Newser) - The credit crisis, which has surged across the global financial infrastructure like a tsunami, washing away millions of share prices, is about to hit one of Wall Street's most hallowed traditions —the fat bonus. The extra pay for all but an elite few may be cut for the first time in five years, Bloomberg reports. More »

More about:  Financial Crisis credit crisis Wall Street Bear Stearns Goldman Sachs private equity hedge fund bonuses Options Group

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