January 2012 is starting out quite different from past years.  Missing is the hustle and bustle of London bankers and recruiters, who in the past were actively pursued new jobs and firms for disgruntled, 'short-changed' bankers. Well, in January 2012, many bankers feel short-changed, they see the reality of the job market.  Not only have bonuses been cut, so have the number of jobs.  And, unless a firm finds a bona fide 'rain maker' - or better yet, a person who walks on water - they're not going to open up the cash drawer for personnel.  Bankers can be greedy, but they're not stupid. It would be nice to believe that this is the start of a return to sensibilities.  Where employees drop the "I" or "me" and become team players.  With few exceptions, when the firm does well, everyone does well;  and when the firm does poorly, ...  That's how it was in the 'go-go' 1980's, if anyone cares. We also don't know, yet, if this culture change has taken root in the U.S., but it probably has - given weak economic conditions and an especially chilly draft wafting up and down Wall Street. A Downside. The situation doesn't make it any easier for those who are looking for work in financial services - out-of-work veterans and recent graduates. But, Wall Street has always be a cyclical industry, and a bullish cycle will return - we just don't know when.  [Dealbook, 1/26/12]