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Big banks stock have been taking a beating. Corporations know that the best way to increase your stock prices in the short term is to announce job cuts. This is what they are doing. Unfortunately for their employees they are nothing more than tools to drive up executive compensation based on the shares of their stock bonuses increasing.
They are taking a beating because they gambled on Greece and Italy. Time to learn their lesson the hard way instead of bailing em out. Of course who knows what the fed has decided to back with taxpayer money for all these folks.
Seems to be some inconsistancy from the conservatives here. First, they were saying that the OWS movement would have no effect on Wall Street, and now they are saying that they are causing them to have to lay employees off. Well which is it. Please make up your minds.
They've been very consistent in eating their own or at least putting other 99%'ers out of work and business.
On a side note, now you know the people that do create and provide jobs...
lol . Bank of America creates jobs in bangladesh. Are u happy for that?
god bless you. interesting the far right never understands corporate fascism until it affects their personal food supply.
They provided plenty of jobs during the bubble. I know, I housed plenty of them. The economy is moving away from investment banking en masse.
You know the saying, change or get left behind.
What's bad is the left claims to be for poor people. Well, they're helping much poorer people (who don't feel entitled to a job an a certain income) in droves and the left hates it, with a passion.
this is coming from a wicked source (banks) but all american workers are anti organized labor. what they cant see is they are not guna make supervisor next month and they are indeed the workers. they need unions.
the great illusion of american labor, if i do a good job and am honest the company will treat me fairly.
In a move by big banks to show stock owners that they are acting more prudently, they are going to lay of 75,000 employees. Of course, compensation at the top remains unchanged.
Thanks for the update. banksters shld know that some professionals with options will refuse to ever buy housing and deal with their trash customer servicing b.s. sub-prime mortgage servicing outsourcing....If jpmorgan chase offered me a 10% CD I wouldnt trust them...they are pure felons.
Thanks to the Fed and banksters lets see how this rolls out in the next 5 years
I love how one cannot via personal email send something without an offensive POS bank of amerika red white and blue ad popping up...saying 'message sent". Thanks 4the permission...lol
...B of A can go to Hades..Former Ops manager for them, i know what they do to people....they are pure criminals.
Here's a homework assignment if you feel up to it:
1) Pick any "big bank" you'd prefer and look up their financial report for the year and look at an expense called "Compliance" - I'd bet you'd be surprised how large that expense is!
2) This will be a fun one, I promise - Start reading the regulations on banks - Start with "A". Don't stop with "D" or even "GG" - read them all, get back w/ us in a few months (or years, it may take you that long) and if you still feel we need more regulations, than at least you'll be qualified to speak on it.
Deal? - or do political talking heads who refuse to enforce current regs sound reasonable?
Well here is homework for you. Tell me if states can regulate banks?
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