Writing is on the Wall for Big Banks: It’s Not Pretty. Hint: You’re going to see lay offs from the big banks!

http://www.businessinsider.com/the-writing-is-on-the-wall-for-big-banks-and-its-not-pretty-2015-10

Morgan Stanley, which missed earnings on the top and bottom line on Monday morning, revealed it is setting aside $1 billion less for compensation and benefits than it did a year ago.
“It looks like no one is getting a bonus at Morgan Stanley,” said Kroll Bond Rating Agency senior ratings analyst Christopher Whalen.
The US bank has now put aside $12.3 billion for compensation through the first nine months of the year. That compares to $12.7 billion this time last year.
Goldman Sachs also put aside less money than last year for compensation. Goldman socked away about $2.3 billion for compensation in the third quarter, compared to $2.8 billion a year ago — a 16% decline.
It has put $10.6 billion aside through the first nine months, down around 1%. Third quarter earnings at the bank missed analyst expectations by some margin.
JPMorgan too put aside less money for pay in the third quarter, with expenses falling 7% from last year, according to its third quarter report.
The compensation bill for the first nine months stands at $23 billion, down from $23.3 billion this time a year ago. It too missed analyst expectations for third quarter earnings.