Banks may shrink for good as layoffs near 160,000

Comments (8)
guppy1111 wrote:

Now “derivative traders” can go back to their old jobs. “Used Car Salesmen”

Nov 16, 2012 4:55am EST  --  Report as abuse
BidnisMan wrote:

Britain produces nothing of note. Banking is supposed to be a support activity to mainstream business. Perhaps they will have to reopen the coal mines of Margaret Thatcher days…

Nov 16, 2012 5:13am EST  --  Report as abuse
stambo2001 wrote:

Here’s the thing: If the banks are still culling jobs what does that tell the rest of the market?

Consider being a sailor on a ship out at sea. You look over the side and see that every rat on ship has started to jump overboard. That can not be a good thing….

Nov 16, 2012 5:48am EST  --  Report as abuse
bobber1956 wrote:

Banks are not part of any market, they are leaches on the market. The markets will do better with fewer of them-lawyers, politicians and insurance agents too.

Nov 16, 2012 9:18am EST  --  Report as abuse
Noobface wrote:

Calling banks leeches are going a bit too far. There are certain aspects of banking that it is true.
Without a proper banking system, how are you going to get the mortgage to buy a house? How do you suppose companies can pay their worker wages?

Nov 16, 2012 12:42pm EST  --  Report as abuse
jcfl wrote:

banks do well when they stick to banking. investment banking is another animal altogether, and has no business being connected to a bank that is guaranteed by fdic. until glass-steagall was overturned in 1999 that was the way it was since 1933. in less than ten years after 1999 we were in another depression – driven by high risk and the elimination of any firewalls between the two. learn from the past; history doesn’t lie. if g-s had not been overturned we would not have had ’07-08 debacle in teh banking industry – investment banking would still have been toast, but i (taxpayer) would not have bailed them out.

Nov 16, 2012 1:16pm EST  --  Report as abuse
brotherkenny4 wrote:


Personal contracts. I have purchased two houses on personal contracts and sold one that way. The individuals make the interest and pay the taxes. Of course you need to be able to understand a contract.

The other answer is credit unions.

Banks are leaches. -Lawyers, politicians and insurance agents too. Then there are CEOs CFOs, VPs and an abundance of middle management. Lots of people who just make a living on the backs of workers. Workers trained in the brainwash factories we call the educational system.

Nov 16, 2012 2:28pm EST  --  Report as abuse
staff3 wrote:

There is a simple solution to poor US job creation. Show me a country with weak property rights and I’ll show you a country with a weak economy and high unemployment. It’s that simple.

Just because they call it “reform” doesn’t mean it is.

“patent reform”…America Invents Act, vers 2.0, 3.0…

“This is not a patent reform bill” Senator Maria Cantwell (D-WA) complained, despite other democrats praising the overhaul. “This is a big corporation patent giveaway that tramples on the right of small inventors.”

Senator Cantwell is right. All these bills do is legalize theft. Just because they call it “reform” doesn’t mean it is. The paid puppets of banks, huge multinationals, and China continue to brain wash and bankrupt America.

They should have called these bills the America STOPS Inventing Act or ASIA, because that’s where they’re sending all our jobs.

The patent bill (vers 2, 3, etc) is nothing less than another monumental federal giveaway for banks, huge multinationals, and China and an off shoring job killing nightmare for America. Even the leading patent expert in China has stated the bill will help them steal our inventions. Congress passed it and Obama signed it. Who are they working for??

Patent reform is a fraud on America. Congress and Obama are both to blame. This bill will not do what they claim it will. What it will do is help large multinational corporations maintain their monopolies by robbing and destroying their small entity and startup competitors (so it will do exactly what the large multinationals paid for) and with them the jobs they would have created. The bill will make it harder and more expensive for small firms to get and enforce their patents. Without patents we cant get funded. In this way large firms are able to play king of the hill and keep their small competitors from reaching the top as they have. Yet small entities create the lion’s share of new jobs. According to recent studies by the Kauffman Foundation and economists at the U.S. Census Bureau, “startups aren’t everything when it comes to job growth. They’re the only thing.” This bill is a wholesale destroyer of US jobs. Those wishing to help fight this bill should contact us as below.

Small entities and inventors have been given far too little voice on this bill when one considers that they rely far more heavily on the patent system than do large firms who can control their markets by their size alone. The smaller the firm, the more they rely on patents -especially startups and individual inventors. Congress and Obama tinkering with patent law while gagging inventors is like a surgeon operating before examining the patient.

Those wishing to help fight big business giveaways and set America on a course for sustainable prosperity, not large corporation lobbied poverty, should contact us as below and join the fight as we are building a network of inventors and other stakeholders to lobby Congress to restore property rights for all patent owners -large and small.

Please see for a different/opposing view on patent reform.

Nov 18, 2012 10:43pm EST  --  Report as abuse
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