# Professor Lawrence White discusses the impact of decreased Wall Street bonuses

1 Faculty News March 11, 2016 ![International Business Times logo](/sites/default/files/styles/246w/public/assets/images/con_031078.jpg?itok=fjxsC0VP)>

Excerpt from the [International Business Times](http://www.ibtimes.com/wall-street-bonuses-dip-new-york-luxury-markets-are-feeling-pain-2332717) -- "'The financial sector has been important for the New York economy since Peter Stuyvesant’s time 400 years ago,' said [Lawrence J. White](http://www.stern.nyu.edu/faculty/bio/lawrence-white), professor of economics at New York University’s Stern School of Business. 'There is no question there’s a ripple effect if bonuses aren’t going to be what they’ve been in the past.'"

[Read more](http://www.ibtimes.com/wall-street-bonuses-dip-new-york-luxury-markets-are-feeling-pain-2332717)