DiNapoli: Wall Street Recovering Faster Than Expected

Report Shows Compensation Reform Could Affect This Year’s Bonus Pool

The securities industry in New York City has returned to profitability faster than expected in the wake of the global economic recession, but the impact of a reorganized Wall Street on the coffers of the City and State of New York remains uncertain, according to a report New York State Comptroller Thomas P. DiNapoli released today.

"Wall Street remains the engine that drives New York’s economy," DiNapoli said. "It's encouraging that the industry is recovering faster than forecast. However, no one can predict the impact of compensation...Keep Reading.