BUSINESS

Wall Street Bonuses Expected To Drop At Least 50 Percent

01/11/2009 05:12 am ET | Updated May 25, 2011

Wall Street's workers are not the only ones worried about those shrinking bonuses. New York's tax collectors are most certainly worried as well.

The New York City comptroller, William C. Thompson, forecast Thursday that Wall Street's cash bonuses will drop at least 50 percent to their lowest level since 2002. That grim estimate reinforces a prediction made at the end of September by New York State's comptroller, Thomas P. DiNapoli, that bonuses could be cut in half.

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