Bankers are having a rough time of it lately.  It is not just that their companies are collapsing beneath them and their bonuses are the subject of global hate and derision. They also have to put up with the barbs of journalists (who are very familiar with being at the bottom of the popularity pile).

The latest example comes from Tim Dowling, scribbling away for Britain's Guardian newspaper.  Mr Dowling has penned a useful primer for bankers who suddenly find themselves living in the real world.

You can read the complete guide by clicking here.  But Global Investing's favourite tip concerns the use of London's celebrated buses:

"When a bus comes into view, raise your right hand as if you were hailing a taxi. Get on at the front and tell the driver where you are going. He will name a price. Haggling is frowned upon, as is suggesting a route. Buses have no business class as such, but the top deck, if there is one, offers superior views."

So cruel. So very cruel.

In the 1987 cult classic movie “Wall Street“, Michael Douglas plays a ruthless stockbroker desperate to cash in on a seemingly endless supply of wealth and swanky perks lavished on hot-shot traders.

Ahhh, the 80s…

More than twenty years later, most would agree that corporate greed still exists — but the perks may be dwindling.

Executives speaking at the Reuters Global Finance Summit say their cash-strapped firms are ushering in a new approach to corporate spending.  Gone are the days when flying business class was deemed a necessity, when the soda in the fridge was free and no expenses were spared. Reining in spending is the new trend sweeping Wall Street as firms struggle to stay afloat in tough times.  To hear some experts tell it, there’s no other choice.

“To watch the financial industry change as radically as it’s changed, to see the economy changing as radically as it’s changing, you’d be offensively imprudent if you didn’t change your spending,” says banking analyst Meredith Whitney.

In Germany, finance experts are already doing their part in cutting costs with a plan that limits top executives’ payout and may even curb the salaries of those working at government-owned companies.  In the U.S., the Treasury is reportedly mulling a new requirement that puts firms on the hook to raise private capital if they want to qualify for government money.

Of course, all this belt-tightening is sure to cause some uneasy feelings — so what’s a worried banker to do? Perhaps a little hypnosis will help. The Wall Street Journal reports that bad market karma is driving harried Wall Street-types to seek the help of hypnotists to ease their markets-induced pain.

Do you think Wall Street is doing enough to reign in spending? Share your thoughts below.

There’s no question Wall Street is undergoing a transformation of sorts with the recent rash of job losses and do-or-die consolidations. But once the dust has settled - what then?

It just may be the start of Wall Street’s warm and fuzzy rebirth, Forbes reports.

“The new Wall Street will be, in some ways, a friendlier place,” writes Michael Maiello. “Investors are no longer interested in secretive hedge fund managers and inscrutable quant trading strategies, and so personal relationships and personal responsibility on the part of financial advisers will be paramount virtues.”

But this supposed new Wall Street — where banks both big and small can flourish, where the personal touch is paramount — has a lot of skeptics to win over. Just today, Fidelity Investments said it was reviewing its staffing amid speculation of 4,000 layoffs. Meanwhile, reports that battered banks have set aside an estimated $20 billion for bonuses is surely confounding news for the thousands of newly-axed bankers left in their wake. What’s more, a new survey shows that most financial professionals aren’t just hoping for a bonus, they’re expecting it.

Is Wall Street capable of making a positive change, or is it headed for more of the same? Share your thoughts with us below.

Who says it’s all gloom and doom on Wall Street? Sure, job cuts are fast and furious these days, but the deepening financial crisis is bringing about some interesting unintended consquences.  Time magazine reports that although the government bailout caps the salaries of top executives, it may actually prop up the bonuses of rank and file bankers.

True, those bonuses are substantially lower than they would’ve been had the markets not imploded in recent weeks — but not nearly as low as one might expect.

Compensation consultant Alan Johnson predicts the average managing director at an investment bank will be on the receiving end of a $625,000 bonus this year, with top bankers earning as much as $1 million. That may be a tough pill to swallow for the taxpayers footing the bailout bill, but some argue that bankers shouldn’t be penalized for their firm’s bad decisions.

Banks already recognize the importance of rewarding newly acquired talent. Bank of America last week offered retention packages to more than 15,000 Merill brokers in a bid to stave off defections.  Only time will tell if it works.

Do Wall Street payouts need to be reined in? Share your thoughts below in the comments section.