Submitted by Reggie Middleton on 01/17/2012 07:46 -0500
Roughly a year ago, I explained to those who subscribe to BoomBustBlog that NYC real estate ever finished correcting. As a matter of fact, it has some ways to go, as does DC real estate. The reason why NYC and DC markets levitated was because the Fed pumped trillions into Wall Street to reflate the bubble which was (and still is) the zombie banking system. DC saw federal spending attempt to replicate organic economic growth. Are any of these methodologies sustainable or practical. Do bulldogs have pleasant breath?
Bloomberg reports The Riskiest Bank on the Streetand it goes a little something like this:Morgan Stanley Said to Limit Cash Bonuses, Increase Deferrals
Morgan Stanley (MS), owner of the world’s biggest brokerage, is capping immediate cash bonuses at $125,000 as the firm curtails pay and defers more compen
http://www.zerohedge.com/contributed/follow-bread-crumb-trail-deflated-wall-street-bonuses-crush-nyc-residential-real-estate
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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