financial services/ the new dotcom

http://www.contrarianprofits.com/articles/one-in-three-wall-st-bankers-to-be-axed/

Wall street firms may have to lay off a third of workers..... sounds dot commish to me, and as the old adage goes if wall street sneezes everyone else catches a cold, anyone who thinks that ireland can escape this would want to do some reading, a bubbles a bubbles a bubble whether it be dot com, building, estate agents or financial services, when money dries up people get layed off

Very doom & gloom from Soros in that independent.co.uk link, but he's someone who's opinion counts in my book. He's right about a failure of regulation (& corporate oversight). How can things go from (Bear Stearns) the CEO getting bonuses of $15M to the bank collapsing in a matter of months?
(p.s. at least his bonus was paid in stock!)