Deutsche Bank bonuses are looking at a 60% cut, or so Bloomberg claims:
Business units hardest hit by the financial crisis such as structured products and proprietary trading will face larger reductions than areas including foreign exchange and commodities, said the person, who declined to be identified because the plan isn't public. Focus Magazin reported the bonus plan earlier.
We aren't surprised. Once the Swiss and the Germans started trimming the strip-club and cocktail expenses, we knew the news wasn't good.
Deutsche Bank Said to Cut Bonuses by 60% After Loss [Bloomberg]