Want a Raise? Move to London

FINANCE
• Another point for London: U.K. traders average salaries and bonuses 50 percent higher than their U.S. counterparts. [Bloomberg]
• Everyone has a theory about why Goldman and J.P. Morgan were shut out of Blackstone Group's IPO, but who's right? [Deal Journal/WSJ]
• Ernst & Young was censured and sanctioned by the SEC on Monday for alleged violations of auditor-independence rules. This was the second slap against the accounting firm in nearly three years. [AP via Forbes]

MEDIA
• Trying to earn some points with the Newhouse family, Graydon Carter will oversee an editorial supplement about movies modeled after Anna Wintour's profitable "Fashion Rocks." [Radar]
• OK Go and Ask a Ninja take home virtual honors in the first annual YouTube Video Awards. [YouTube]
• Young reporters at newspapers love their jobs but don't think they'll be around for much longer. [AJR via Mediabistro]

LAW
• Alberto Gonzales may have another U.S. attorney scandal to worry about, this time about accusations of sexual harassment. [Above the Law]
• Tired of firm life? Budgets are up more than 20 percent for in-house legal departments. [LegalBlogWatch]
• Underpaid New York lawyers push for a statewide public defender's office. [National Law Journal]

FASHION
• The power of blogs: After Fashionista commenters trashed Sarah Jessica Parker's fashion line, Bitten, rumors abounded that the label was being redesigned. [WWD]
• Payless poached Bernard Figueroa, head shoe designer at Michael Kors, to be the new director of design for women's footwear. [Fashion Week Daily]