G.W. Bush and CONgress bailed out the financial sector in 2008, ensuring most of the guilty continued on without sacrifice or paying the consequences to bring them back to the brink of collapse today.Paladin wrote: ↑Wed Dec 27, 2023 3:24 pm Banks Terminate 60,000 Workers In One Of The Bleakest Years For The Industry Since 2008
Clear case of Bidenomics.A new report from the Financial Times shows twenty of the world's largest banks slashed 61,905 jobs in 2023, a move to protect profit margins in a period of high interest rates amid a slump in dealmaking and equity and debt sales. This compared with the 140,000 lost during the GFC of 2007-08.
"There is no stability, no investment, no growth in most banks — and there are likely to be more job cuts," said Lee Thacker, owner of financial services headhunting firm Silvermine Partners.
FT noted that corporate disclosure data and its independent reporting did not include smaller regional bank cuts, indicating total job loss could be much higher.
Is it just coincidence that CONgress is full of multi-millionaires?