Banks likely will suffer another 150,000 layoffs in 2012 on top of the 230,000 estimated for...


Banks likely will suffer another 150,000 layoffs in 2012 on top of the 230,000 estimated for this year, Dick Bove says, scolding those who might celebrate banking's woes: "People who are fired cannot buy products. They cannot pay taxes. They receive government benefits like unemployment checks instead... New York’s governor cannot tax incomes that do not exist."

Comments (9)
  • User 509088
    , contributor
    Comments (1733) | Send Message
     
    geez! funny how that logic dinnae work when it t'were factory workers 'n the like! a merry christmas to ye!
    16 Dec 2011, 02:57 PM Reply Like
  • Stoploss
    , contributor
    Comments (1713) | Send Message
     
    Welcome to the party.
    16 Dec 2011, 03:01 PM Reply Like
  • Sportivny
    , contributor
    Comments (74) | Send Message
     
    Finance skims money off the top of profits of other industries, maybe more profits would go to people who produce something for a change
    16 Dec 2011, 03:02 PM Reply Like
  • Stone Fox Capital
    , contributor
    Comments (9930) | Send Message
     
    let them go work in oil drilling in the Utica Shale in OH or Marcellus Shale in PA. Much more productive use of their time. lol
    16 Dec 2011, 03:05 PM Reply Like
  • DrData02
    , contributor
    Comments (31) | Send Message
     
    Well we could always use some good banking analysts.
    16 Dec 2011, 03:09 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    ...and they can´t steal old peoples retirement monies..or steal other peoples money..funny..they get bailed out..and now on welfare..still living on the Federal governemnt..lol
    16 Dec 2011, 03:21 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3527) | Send Message
     
    Is Mr. Bove spending all his income? If not, then his hypotheses doesn't hold because he's putting people out of work by not spending. Ridiculous.
    16 Dec 2011, 03:27 PM Reply Like
  • Hubert Biagi
    , contributor
    Comments (864) | Send Message
     
    Fact is, the magical "Isomething" experience from AAPL only employs about 50k direct workers, and mostly Chinese assembly at Foxcon, who employs millions. While the likes of a JPM, with 1/3 the market cap, employs about 250k. So when the liberals, who love the thrash the banks, and love to elevate Steve Jobs to hero status, talk about job creation, maybe they should look at the facts. Mr. Jobs has created more offshore jobs than any other CEO in history, while creating little here in the US.
    16 Dec 2011, 03:32 PM Reply Like
  • User 509088
    , contributor
    Comments (1733) | Send Message
     
    yup, steve jobs gave out exploding mortgages to trusting people. he created an unregulated land registry system. steve jobs tried to get congress to back date his private system and protect him from those who trusted him but who weren't good at math or percentages.

     

    steve jobs packaged totally crapulous financial material into totally fecal financial instruments. steve jobs then somehow tricked the ratings agenices into saying that ick was really really tremenjous. steve jobs then sold that ick to all those who trusted him, and his brainwashed agencies. steve jobs took the profit from it when it all collapsed. as gov'ts struggled to deal with covering so much failure, steve jobs feasted on interest rate panics, totally a result of his denuding of capital.

     

    steve jobs closed factories and laid off workers across the continent in order to increase profitability by capitalising on the chinese police state. steve jobs refused to repatriate his profits and paid huge sums to influence the protection of his wealth, which had once been the shared living of all those industrial workers and the ancillary supporting jobs their wages provided.

     

    steve jobs told people to go out and spend. don't worry! it'll help.

     

    sounds like steve jobs did it all. oh, and i'm a commie. hah!
    17 Dec 2011, 08:44 AM Reply Like
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