Citigroup to Cut Costs and 53,000 Jobs
Citigroup, widely seen as the sickest Wall Street bank, will make some of the most severe cuts in the history of US business _ 53000 jobs _ as it tries to slash costs and get back to basics before it’s too late. (Nov. 17)
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The Bail Out does not help Main Street; it is welfare for Wall Street!
Small businesses cant get loans; kids cant get loans to go to college; home owners cant get loans; but the elite of Wall Street get to keep their billions of dollars in Christmas bonuses last year!
And these banks are using the money to give more bonuses to their executives; buying more banks; and, extending gratuitous benefits & pedicures to the corporate aristocracy
Bankruptcy court would mean returning their bonuses
at this rate were gonna get to 10% unemployment someone please do something