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Massive layoffs on Wall Sreet

Discussion in 'Political Discussion' started by reflexblue, Apr 24, 2008.

  1. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

  2. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    wait a second....

    I thought that the economy was fine, and that we were creating jobs? I thought there was growth?

    According to Sean Hannity, there are only 'pockets' of recession and or slowdown. And our brave president said much of the same.


    This makes no sense?
     
  3. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    It looks like theres a "pocket" of recession in downtown Manhatten. Who'd have thunk it. :rolleyes:
     
  4. DarrylS

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    These are not minimum wage employees.. nor are they civil servants.. this will have a ripple effect.
     
  5. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    What are these monkeys going to do for a living?

    "Would you like fries with that, ma'am?"
    or...
    "Hey Bill! Throw me some more shingles! I'm all out of nails, too!"
     
  6. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    Hey where are all the hard core capitalists like PF13 on this. their silence is deafening.
     
    Last edited: Apr 25, 2008
  7. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    What are you looking for ? I guess the Liberals want to celebrate "these" job losses. 36K job losses sucks, and yes, there's a trickle down effect as they're high paying jobs. It's still a small loss overall, though. I don't like it when rich or poor lose jobs - it seems the Liberals bemoan the poor losing jobs and celebrate the rich losing theirs.
     
  8. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    What are they going to do? I don't give a sh!t. When I got layed off and We lost our house back in 1991 they didn't care. They actually sent lawyers to get anything they could. They asked about things like hammers and rakes.
    My wife and I just got a letter saying we want our 120,000 dollars next month. So I have no sympathey for these people. Because they don't have any for US.
     
    Last edited: Apr 25, 2008
  9. DarrylS

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    Don't read where is anyone celebrating, it is ironical that these guys have lost their jobs.. all the while we are told there is no recession and the economy is strong.. 36K in this sector is big, no matter how you look at it. It will be difficult for the rest of the industry to absorb these folks.. unless the jobs are secretarial or entry leve..
     
  10. BelichickFan

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    #24 Jersey

    RB has a celebratory vibe to me. Whether I'm correct or not, the usual crew haven't jumped in to bemoan this as they would if, say, there were 36K job losses for a car manufacturer or whatever.
     
  11. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    RB isn't partying over thousands of people losing their jobs. RB has a couple of thoughts concerning this.

    1.When the Bank of New York wanted 120,000 in one month or they would foreclose they had no sympathey for myself wife and kids. TBNY bought out the bank we had our mortgage with. It was a bad move so they turned around and called all the chits in. Sorry we didn't have a 120,000 thousand dollars laying around to pay our mortgage off.

    2.Its a reflection of the economy that has been shaped by a never ending war,a declining dollar, and the exportation of jobs,manufacturing jobs. The bottom line in most corporations now is how much the upper managment can pocket,the hell with the little people that do the grunt work for them.

    3.Their greed caused the crisis that lead to their losing their jobs. How ironic. These are the people that started the whole credit mess by giving credit to people they knew couldn't pay it back. In the case of subprimes they knew some of the loans wouldn't be paid back but they looked at that as an acceptable loss. Then took these TOXIC WASTE loans and rolled them into bonds,bonds that are now suspect no one knows which bonds are good and which aren't. The bottom line they brought about their own demise.

    So RB's two main thoughts after reflection. Is the irony in the fact that they caused the problem that lead to their job loss. And that I have no sympathey for them,because I was in their position and no one would listen,no one cared.
     
  12. patsfan13

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    RB you seem very bitter are you clinging to your guns and bible (or little red book)? Your attitude seems to be they had it coming.. I've had tough times, whining on the internet or blaming others is pointless.

    As to the layoffs. Subprime hits profits, more automated trading (the # of hares in different markets are rising not declining) ie increased productivity + layoffs. Hopefully the people being laid off can get good jobs.
     
  13. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    Those were the good jobs. The credit industry was born out of the loss of manufacturing jobs that have been going south and east since Reagan. Now the credit industry is going belly up or is automating it's activities. There's nothing left. Service sector jobs are gone to illegals. What else is there? "Consulting"?
     
  14. patsfan13

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    Highest corporate taxes in the developed world, over regulation and no tort reform, what do you expect?
     
  15. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    You think that's what caused the loss of those jobs?
    How about exotic salaries for CEO's, bad investments in over-inflated markets....
     
  16. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    PF13 the bitter remark along with"clinging to my guns and bible" was funny. It would be even funnier if you had come up withit origanally. Yeah I have a bible in a glass case ready for emergancys. Its right next to it is my gun case. :D I wouldn't call it bitter as much as I think of it as they got their comeupance. Now they know what it feels like,that their job isn't as Non-Elastic as they thought.
     
  17. patsfan13

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    Ceo salaries are a drop in the bucket compared to compliance cost, legal fees and taxes. The populist stuff is nice feel good class envy but isn't why jobs are moved out of the country. CEO salaries are the business of the shareholders. J Welsh was worth every penny the GE shareholders paid him.

    Make America an easy place for Corps to do business and morejobs will be here.
     
  18. DarrylS

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    The overregulation is the basis of many suits, so stop all the rules and there will be less people suing...
     
  19. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Since IIRC >70% of the congress critters are lawyers the laws are written to benefit ___________, remember the trial lawyers give huge amts on $$$ to the ___________ party.
     
  20. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    .................................
    Did I get it?
     

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