A lot of Wall Street professionals if not all will have to cope with the changing landscape of their compensatory structures, shrinking bonuses and salaries, that is if they are still able to hold on to their jobs. Hopefully most of them have saved up enough with their high earnings to tide over this adversity.

The current Wall Street mess may seem like 'all hell breaking loose' for industry outsiders, but those intimately familiar with the Financial District had been feeling the pinch for quite a while now. We all know now that this calamity is one of a mortgage meltdown, but is this something that could not have been foreseen, forewarned and more importantly avoided ?