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Wall Street Bonus Dream Gets Rude Wake-Up Call In Hamptons

The bounce that everyone's been expecting from Wall Street is turning out to be more of a thud. Even with reports of a 17% increase in bonuses, the ripple effect hasn't reached the East End yet and may not because of a spending freeze triggered by fear. More money equals more problems for wealthy, but reluctant bankers who don't want to spend because "everybody would slit their throats, public relations-wise," says Douglas Elliman director Paul Brennan. But even though the early signs aren't encouraging, many Hamptons brokers are trying to keep the bonus season alive. Brennan adds, "The fantasy still lingers." Dream on.
· Hamptons residential real estate market tenuous, even with bonuses back [RealDeal]