AMERICAblog: Bear Stearns chopping 8,000 of 14,000 workers
dad
· 1 year ago
freep market
OlderAndWiser
· 1 year ago
Well, that is 1,000 more than B of A announced it would cut by absorbing B-S (notice the initials?) B-S is what's it's all about anyway, hey?
And we must not forget the thousands of other cuts in other investment firms, as well as mortgage brokers, etc. There's no turning back this tide, I believe, even as much as Bernanke is "helping" save capitalism. If capitalism behaves this way with regulations on the books (although not being enfofced, obviously), what would happen with laissez faire type capitalism as espoused by the Ron Pauls of this world?
Regulate it, rein it in, and make it work for everyone, not just the few, if we should continue to use it for our economy.
dad
· 1 year ago
the market can not regulate itself.
lynchie
· 1 year ago
OT: I am watching Little Rock Central on HBO. Documentary on a high school in Little Rock Arkansas and it just showed one segment with a white golf coach and 3 of the white students on the team. If anyone doubts that there is stereotyping you just need to watch this movie. Black kids are lazy, black kids don't want to complete high school, black kids want to sell drugs. The 3 students all come from families where the father is a doctor. They complain about their stress to get good grades. You know the best thing about this election has been Senator Obama and Reverend Wright discussing race and the anger that still remains in the Black community. It is easy to sit back in your walled community and point to the supposed advantages the inner city youth have in getting into school, in collecting welfare, selling drugs, etc. No one of course considers their own position of wealth. We have had a war on drugs since Regan and we haven't won that battle either. We spend over $20 billion a year at the Federal level and we arrest 500,000 people a year yet the problem continues. Once America declares war on something you can bet it won't make any difference. We have a War on Poverty which has done nothing but raise the number of people living below the Poverty line. Back to my initial point, Race in America in a lot of areas is still alive and well.
tbhull
· 1 year ago
At least their retirement and savings accounts replete with Bearn Stearns stock purchased at $100-$150 a share will cushion the blow. Ooops! I forgot the stock currently trades at $5.96 a share.
Rab
· 1 year ago
Time for some lameness....... It looks like its a "bear" market for those employees.... I hope they don't have a "stern" outlook on life because of their job loss.....
jr
· 1 year ago
The new economy is getting billions from the taxpayers and handing out pink slips like candy
tbhull
· 1 year ago
No taxpayer money just yet, just the Central Bank granting Bear Stearns a $30 billion loan with junk as security. As time goes on and the Central Bank's balance sheet shrinks when these types of loans go sour, then the federal coffers will be tapped.
BarrieT
· 1 year ago
Bear Stearns are mooning all of us.
DCinDC
· 1 year ago
Bomb Bomb Bomb Bomb the US economy
Words by John McCain
LeslieB
· 1 year ago
While the Fed buys out Bear Stearns with our tax dollars, the laws, or lack of, that enabled these companies aren't being addressed. Meanwhile, the employees, who had their 401Ks in company stock, lost their money and they're about to lose their jobs. But the CEOs will still get their million-dollar bonuses, and, more importantly, the opportunity to do it all again.
nicho
· 1 year ago
Well, so much for the idiotic claim that private business can run things better than the government.
Sage24
· 1 year ago
So it looks like those tax cuts did not work. What kind of idiots will start an unnecessary war, put all our resources into it, and give tax cuts to the wealthy? I don't claim to know too much about economics, but my sensibilities tell me, that we have to cut down, and sacrificed at home. to finance one of the most expensive wars. Morons voted for two corrupt oil barons, and the end result is the energy companies, and defense contractors, have benefited mostly from this Bush presidency. They have made record breaking profits, and the poor American people are the losers.
All Comments
And we must not forget the thousands of other cuts in other investment firms, as well as mortgage brokers, etc. There's no turning back this tide, I believe, even as much as Bernanke is "helping" save capitalism. If capitalism behaves this way with regulations on the books (although not being enfofced, obviously), what would happen with laissez faire type capitalism as espoused by the Ron Pauls of this world?
Regulate it, rein it in, and make it work for everyone, not just the few, if we should continue to use it for our economy.
You know the best thing about this election has been Senator Obama and Reverend Wright discussing race and the anger that still remains in the Black community. It is easy to sit back in your walled community and point to the supposed advantages the inner city youth have in getting into school, in collecting welfare, selling drugs, etc. No one of course considers their own position of wealth. We have had a war on drugs since Regan and we haven't won that battle either. We spend over $20 billion a year at the Federal level and we arrest 500,000 people a year yet the problem continues. Once America declares war on something you can bet it won't make any difference. We have a War on Poverty which has done nothing but raise the number of people living below the Poverty line.
Back to my initial point, Race in America in a lot of areas is still alive and well.
Bomb the US economy
Words by John McCain
I don't claim to know too much about economics, but my sensibilities tell me, that we have to cut down, and sacrificed at home. to finance one of the most expensive wars. Morons voted for two corrupt oil barons, and the end result is the energy companies, and defense contractors, have benefited mostly from this Bush presidency.
They have made record breaking profits, and the poor American people are the losers.