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Wall Street 40% Bonus Rise Feeds Spending on $43 Steak

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"A 40 percent jump in Wall Street bonuses this year may bring relief to New York City," Bloomberg says. But public anger over Wall Street bonuses, and the need to rebuild savings and pay down debt, may limit how much bankers and traders spend once they get their bonuses, Charlie Attias, a senior vice president at Corcoran Group, a New York real estate brokerage, told Bloomberg. Delmonico's restaurant in the heart of the financial district, which sells prime New York strip for $43, lost about 20 percent of its business after Lehman Brothers’ bankruptcy last year.
SOURCE:   Bloomberg

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