The feeding frenzy is over for Wall Street's wolves

Falling industry revenues and rising litigation costs have put an end to investment banking's halcyon era. Medicine has been prescribed for the sector's ills, but it is bound to be unpopular.

James Packer is set to remind us of the past excesses on Wall Street with his new TV series inspired by The Wolf of Wall Street, while the current would-be wolves on Wall Street will be looking back at the excesses of their predecessors almost with envy.

In the good old days, salaries and bonuses poured into the bank accounts of Wall Street investment bankers.  

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