Wall St. pay plunge

The New York Post reports:

Wages on Wall Street tumbled more last year than at any time in modern history -- including the Great Depression, according to a study released yesterday by the city's Independent Budget Office.

The IBO reported that securities-industry wages averaged $311,279 in 2009, down 21.5 percent from $396,370 the previous year, and down 24.6 percent from $412,915 in 2007.

IBO Senior Economist David Belkin said the numbers were so striking that he began digging for a similar period of such sharp declines, but couldn't find one.

Unlike some sectors of the economy.