Forum Post: Report Predicts Massive Layoffs on Wall Street
Posted 13 years ago on Oct. 12, 2011, 3:38 p.m. EST by groobiecat2
(746)
from Brattleboro, VT
This content is user submitted and not an official statement
"It’s been tough going of late for New York City’s securities industry, and it looks like its going to get a lot worse before it gets any better, according to a new report out Tuesday from the state’s comptroller.
Wall Street could lose another 10,000 jobs by the end of 2012, bringing the total number of jobs eliminated since 2008 to 32,000, according to the report from Thomas DiNapoli’s office.
“It now seems likely that profits will fall sharply, job losses will continue, and bonuses will be smaller than last year,” DiNapoli said in a downer of a statement. “As we know, when Wall Street slows, New York City and New York State’s budgets feel the impact, and that is a concern.”
http://slate.us2.list-manage.com/track/click?u=c05b76ecf68cd5e5448448316&id=676fd1a8f2&e=1e631fd6b7
does anyone remember NAFTA ??? And a little guy named H.Ross Parole and another candidate by the name of Pat Buchanan? both said there would be a Huge Sucking sound.... Jobs... going south.... Friends, It should be on no surprise to anyone who can do simple math, No Jobs... No tax dollars , no more middle class to pay for everything the rich get out of paying for .. we maxed out our national credit card to the tune of 14.3 trillion and counting. If its not FDR's new deal we need then it will have to be something very much like it. but all we or at least all I expect in reality is more gridlock till the next election. we need to plan our work and then work our plan .. A general strike would be very painful for many of us but is the American dream not worth saving? How else to get (their) attention. Gandhi made it work in India . I heard some talking head say that given 30 days 50% of the American public could not raise 2000.00 dollars.. I was stunned . I vote so I feel I've a right to complain, but I don't want to set here and bitch about it. maybe if we all took a day off from every single job in the nation and devoted that day to positive ideas we could get this thing moving on steroids. I'm willing if you all are and would that not scare the bejesus out of at least 1%.
All very scary stuff. I think the good news is that #OWS is going to try to go about this in a much more methodical way that anyone has considered heretofore. It's possible that some more extreme measures might be needed, but read this first:
http://groobiecat.blogspot.com/2011/10/breaking-plan-ows-democratic-process.html
That's bad for NY. Services are going to be affected and 99%'ers will pay. Forty thousand people in New York City are paying 50% of the taxes
Well, maybe this is what's needed to pull people in and together. #OWS isn't just a bunch of hippies. I'm 52 and live quite well. But I'm with them. The system is broken, and something needs to be done--something that doesnt' accuse all "pro-stimulus" people as angry marxists.
I feel so sorry for wallstreet and the state of NY. :~/
Although I'm all in favor of taking down today's ineffective and inefficient Top 10% Management Group of Business & Government, there's only one way to do it – by fighting bankers as bankers ourselves. Consequently, I have posted a 1-page Summary of the Strategic Legal Policies, Organizational Operating Structures, and Tactical Investment Procedures necessary to do this at:
http://getsatisfaction.com/americanselect/topics/on_strategic_legal_policy_organizational_operational_structures_tactical_investment_procedures
Join
http://finance.groups.yahoo.com/group/StrategicInternationalSystems/
if you want to be 1 of 100,000 people needed to support a Presidential Candidate – myself – at AmericansElect.org in support of the above bank-focused platform.