Thursday, December 11, 2008

How's That Bailout Working So Far?

We are being played for fools.

The financial industry is getting billions of dollars, for what? So that they can fire people, that’s what. I thought the idea of the bailout was to help save people’s jobs.

From Bank of America to cut up to 35,000 jobs:

Bank of America Corp said on Thursday it plans to eliminate 30,000 to 35,000 jobs over three years after it completes its purchase of Merrill Lynch & Co).

The cuts could affect about 11 percent of the combined companies' roughly 308,000-person workforce. Bank of America employs about 247,000 people and Merrill about 61,000.
I wonder what will happen if the government bails out the auto industry.

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