UBS to cut 10,000 jobs in fixed income retreat

Comments (6)
Harry079 wrote:

As I said many many months ago the only entity that is truly benefiting from the low interest rates is the US Treasury on what they pay on the bonds they use to support the QE programs.

The policy of near zero rates by the Federal Reserve has destroyed the incomes of more people and threaten pension funds all across the country.

Oct 30, 2012 10:28am EDT  --  Report as abuse
totherepublic wrote:

Harry079
Income! We have to have income…not overhead. Capitol, investment profits, retirement pay, da da da. All overhead. We NEED income. If we do not put America back to work and make something to actually SELL, services is NOT the answer, we are all going to be broke! Oh, that’s right, we already are. We can move 1′s and 0′s around only so long and then the guy that loaned out his buck is going to want it back and all we have is 1′s and 0′s. You may scoff at my overly simple approach but hey…I have NO debt.

Oct 30, 2012 11:58am EDT  --  Report as abuse
Harry079 wrote:

Well what about all those tens of millions of people who worked their whole lives saved for retirement and put their savings into fixed income accounts depending on a certain rate of return?

They need income too don’t they.

I actually heard Ben Bernacke say that part of the plan for the low interest rates was to force these mostly elderly people into the Equity Markets. You know the higher risk complicated trading markets?

Many of these people are collecting pensions that are now at risk because the rates are so low that the Pension Funds are not generating enough returns to keep paying out the same amount of INCOME to the pensioners.

Oct 30, 2012 12:32pm EDT  --  Report as abuse
moonhill wrote:

My bank pays .50% on a savings account and then charges $5.00 per month in service charges. That’s why I closed my savings account.

Oct 30, 2012 12:56pm EDT  --  Report as abuse

Behold the “job creators”!

Oct 30, 2012 1:47pm EDT  --  Report as abuse
totherepublic wrote:

Art_In_Seattle
Yes and Mckenna is IN! Between Him and Dunn we finally get something done about all these illegal aliens.

Oct 30, 2012 6:33pm EDT  --  Report as abuse
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