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Wall Street bonuses expected to drop

January 9, 2012 6:13:54 AM PST
It appears the wolf is at the door, and like it or not, the bulls and bears on Wall street are taking a pay cut.

Bonuses this year are expected to be the lowest since 2008.

Goldman Sachs reportedly plans to cut its pay in half for its 400 partners.

And The Wall Street Journal reports that Morgan Stanley is expected to shrink its bonuses by 30 to 40 percent.

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