There’s blood on the Street. In a wild swing of the ax that has shocked many pundits, Wall Street’s biggest banks have slashed nearly 50,000 jobs, and bonuses and expense money are being cut as profit opportunities dry up. And there’s no easy way out, analysts say, because the Fed’s quantitative easing that once rescued the financial system with trillions of cheap dollars is - at least for now - history. By Mayo’s calculations, BANK REVENUES ARE THE WEAKEST IN EIGHT DECADES, a shocking throwback to the Great Depression. And the carnage is ongoing as global growth slows and commodity prices and currency movement roil the markets. nypost/2015/01/17/50000-wall-street-jobs-cut/
Posted on: Fri, 23 Jan 2015 07:27:21 +0000
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