Tough Times on Wall Street

from National Public Radio

A new report shows that private equity bidders are walking away from deals. Because of the credit squeeze, the number of failed buy outs has doubled this year. The credit problems are taking their toll on the executives in charge of those deals, too. Wall Street bonuses are expected to fall by as much as 10 percent from last year. It's the first overall drop in five years. Still, it is probably too soon to start feeling sorry for the Wall Street crowd. Before the credit crunch hit, the average investment banker was expected to receive a bonus of more than $2 million this year.

Broadcast Dates

• Morning Edition, November 7, 2007