Pain & Pleasure

[mingsphinx]

http://money.cnn.com/2011/09/12/markets/wall_street_layoffs/?cnn=yes

Poor babies. Now they are going to lose their jobs but you cannot call it a layoff.

 

[mingsphinx]

http://www.businessinsider.com/things-to-do-on-wall-street-2011?op=1

Really, really, really lame.

 

[keeptradin']

Quote from mingsphinx:

http://www.charlotteobserver.com/2011/09/02/2574344/bank-of-america-layoffs-could.html

The Journal is saying that the lay-off carnage at BofA could reach 40,000 but no matter how you look at it there are going to be a lot of bankers out of a job in the months to come. For many of these people, it is going to be a life changing experience.

Once again proving the wisdom of the saying "Karma is a bitch." :eek:

 

[mingsphinx]

http://money.cnn.com/2011/11/15/markets/Wall_Street_jobs/

 

[mingsphinx]

http://www.bloomberg.com/news/2011-11-22/wall-street-unoccupied-with-200-000-job-cuts.html#

“This is something very different,” said Huw Jenkins, a former head of investment banking at UBS AG (UBSN) who’s now a London- based managing partner at Brazil’s Banco BTG Pactual SA. “This is a structural change. The industry is shrinking.”

Neil Brener, a psychiatrist whose patients work in London’s City and Canary Wharf financial districts said the stress is contributing to panic attacks, binge drinking and chest pains.

Good article, well worth a read.

 

[mingsphinx]

http://dealbook.nytimes.com/2011/11...e-heavy-toll-on-younger-workers/?ref=business

Went to the right schools, know the right people, good at what she does and she still gets fired. What kind of world do we live in? Time for the munchkin to grow up.

 

[mingsphinx]

http://www.bloomberg.com/news/2011-...in-the-towel-as-debt-crisis-hits-revenue.html

The loss of habitat might just lead to a reduction in numbers .

 

[Visaria]

I just don't understand. How can these people not have saved some serious money?

 

[cyoungmark]

Quote from mingsphinx:

http://www.reuters.com/article/idUSTRE61O48I20100225

http://m.cnbc.com/us_news/35566066?refresh=true

Someone needs to tell these people that if you are out of the Street for more than a year, you are out for life. Your hands get cold when you are no longer in the game. It is sad to still read articles about how people are hanging on to the hope of getting back on the gravy train. They really seem to believe that they are special and irreplaceable. Some have run down their savings and there are stories about how former bankers are homeless and living out of their Lexus SUVs. If only they would adapt to the new realities, they would be fine. Send the kids to a public school, move to a cheaper home, and get rid of all the toys. If they make the adjustment, some of these people will never have to work another day in their lives. Yet they insist on their upper middle class prerogatives. For them it is glam and glory or bust. I guess bust it is then.

I'm so with you. I'm sure there are tons of people out there who think since they have a degree, they can't work a waiter job/low wage job.

 

[shopster]

Quote from shopster:

<iframe width="560" height="315" src="http://www.youtube.com/embed/ROlDmux7Tk4" frameborder="0" allowfullscreen></iframe>

This sums it up........


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