20,000 Fat-Cats for the Big-Jump on Wall Street.


	20,000 Fat-Cats for the Big-Jump on Wall Street.

righthand

3-25-2008 2:35 PM

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tags:

usa, money, business

righthand says:

Follow the money. Hitler's Bank?

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/165ef428-2bbe-4b47-9277-5fa2bb856caf/1056BE5B-2080-4AFD-9A73-2A454012016D/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.guardian.co.uk/business/2008/mar/25/creditcrunch.bearstearns?gusrc=rss&feed=worldnews" href="http://www.guardian.co.uk/business/2008/mar/25/creditcrunch.bearstearns?gusrc=rss&feed=worldnews" style="font-size: 11px;">www.guardian.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/mar/25/creditcrunch.bearstearns?gusrc=rss&feed=worldnews"><IMG width="460" height="276" alt="Wall Street" src="http://image.guim.co.uk/sys-images/Business/Pix/pictures/2007/12/18/wallstChipEastEPA460.jpg" />
				  <P class="caption">Photo</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/mar/25/creditcrunch.bearstearns?gusrc=rss&feed=worldnews"><H2 id="strap">GMT</H2>
<H1 class="article-no-standfirst">Threat to 20,000 Wall Street jobs</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/mar/25/creditcrunch.bearstearns?gusrc=rss&feed=worldnews">More than 20,000 people are forecast to lose their jobs on Wall Street as the credit crunch bites into business at financial institutions over the next two years</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/mar/25/creditcrunch.bearstearns?gusrc=rss&feed=worldnews">New York's Independent Budget Office, a non-partisan agency which scrutinises the city's finances, estimates that profits on Wall Street fell by 80% during 2007 to $3.2bn - the lowest level since 1994</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/mar/25/creditcrunch.bearstearns?gusrc=rss&feed=worldnews">In a report published this week, the office predicted that 12,600 job cuts this year, followed by 7,600 in 2009</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/mar/25/creditcrunch.bearstearns?gusrc=rss&feed=worldnews">"The economic situation is particularly precarious," said Ronny Lowenstein, director of the publicly funded agency. "If the problems affecting Wall Street and housing worsen, the recession will be deeper and the fiscal pressures on the city will quickly mount."</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/mar/25/creditcrunch.bearstearns?gusrc=rss&feed=worldnews">The figures do not include the likely redundancies at Bear Stearns</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/mar/25/creditcrunch.bearstearns?gusrc=rss&feed=worldnews">almost 35% of wages in the city come from the financial sector.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/mar/25/creditcrunch.bearstearns?gusrc=rss&feed=worldnews">banks and brokerages have shed 34,000 jobs over the last nine months</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/1056BE5B-2080-4AFD-9A73-2A454012016D/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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