The economy is SO bad......that bankers are being laid off. LOTS of them losing jobs.

[dixiegrrrrl]

Global Banks Poised to Slash 101,000 Jobs in Fastest Reductions Since 2008

"The biggest global banks are cutting jobs at the fastest rate since 2008 as a weak U.S. economy squeezes revenue, regulators push firms to hold more capital and companies restructure businesses…. The 50 largest banks, including HSBC Holdings Plc (HSBA), Credit Suisse Group AG (CSGN) and Bank of America Corp. (BAC), disclosed plans for almost 60,000 reductions since Jan. 1, according to company statements and data compiled by Bloomberg Industries. At that pace, they’ll cut more than 101,000 jobs this year. "
http://www.bloomberg.com/news/2011-08-23/european-bank-job-bloodbath-surpasses-40-000-as-ubs-cuts-workforce-by-5-.html

“It’s a bloodbath, and I expect things to get worse before they get better,” said Jonathan Evans, chairman of executive- search firm Sammons Associates in London. “I cannot see a lot of those who have lost their jobs getting re-employed. Regardless of how good someone is, no one wants to talk about hiring. Life will be very difficult for two or three years.”
http://www.bloomberg.com/news/2011-08-08/global-banks-poised-to-slash-101-000-jobs-in-fastest-reductions-since-2008.html

[xchrom]

1. My guess? Major player bad guys are safe.

These are mostly stiffs.

[Kalidurga]

3. I hate to jump ahead in a thread but,

that was my very first thought. None of the bad guys are in jeopardy, it's just some poor schmuck or schmuckette, just trying to get by and do a good job, but that isn't what the corporation machine wants anymore. The old school nose to the grind stone work ethic is being replaced with the who can stab who in the back the most successfully(I don't have a pithy way of saying that), so it is a cold cruel world we are going to have to get used to surviving in or just sit on the sidelines hoping we get a few crumbs.

[dixiegrrrrl]

5. Gee, sure sounds like mafia to me.

[Amonester]

2. That's what happens when the crook$ run the show.

And then, they run away with the all that ca$h when everything else goes south.

It could be called "The Gadhafi Doctrine" these days, except most of them get away scot-free.



They Ignore History To Party All Day.

[Hawkowl]

4. Good.

Responsibility is good. Consequences are real.