And there's more...

Wall Street Journal also supports the view that the days of fat pay packages in the financial sector are over.

http://s.wsj.net/article/SB120933096635747945.html

The sector as a whole will surely take time to bounce back but I think the role of raising and managing capital is too important to be 'any-less important'. May be it is my heart and not my brain speaking this time but it has happened in the recessions of the last few decades and though this promises to be larger one and a more painful one, I think it will happen again this time...

Impeccable Timing...

I could not have chosen a more (in)appropriate time to do MBA in Finance... Amol Agarwal discusses excesses in the global financial sector and paints a realistic picture of the future here...

http://mostlyeconomics.wordpress.com/2008/10/06/quantifying-financial-sector-excesses/

On a more brighter side, this will really clean-up the system and prepare the financial sector for next leg of innovation...