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Bonus Bouncing: Bracing for Big Cuts

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Real estate watchers who are believers in the Wall Street bonus bounce, take note: the city and state are prepping for bonuses to be cut 10% from last year, when a record $23.9 billion was handed out to employees who all turned around and blew the cash on apartments at BLUE and 15 Central Park West, or so some would have you think. Hiring freezes and budget cuts at city agencies are on the horizon, because the government pretty much runs on the scratch it makes off taxing all the finance boys and girls. Luxury market doomsayers, you have ammunition. Fire away!
· Bonus Cuts to $ock City [NYP]
· Here Come the Bonus Bounce Stories [Curbed]