Wall Street firms to continue technology spending

Most Wall Street firms have come around to the view that technology is their greatest weapon. You've got to have more and better than the other guy. So it's not that surprising that the huge writedowns haven't yet affected IT spending. A new Wall Street & Technology survey finds that on the sell-side about half of all firms plan to boost spending 11 to 30 percent next year. About a third of buyside firms plan to hike spending that much. The issue is whether they're getting less bang for their buck these days. The new strategic stuff has to be rationalized against rising costs of labor and infrastructure. Data center costs are especially troublesome. But the top dogs understand the value of this spending. They have to.  

For more:
- here's an article from Wall Street & Technology

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