3800 More Jobs Gone!!!!!!
4:33[IMB] IndyMac to cut 3,800 jobs
4:31[IMB] IndyMac to stop accepting new loans
4:30[IMB] IndyMac can't accept new brokered deposits w/o FDIC waiver
4:30[IMB] FDIC waiver is uncertain, IndyMac adds
4:29[IMB] IndyMac may have to stop new loans to shrink balance sheet
4:27[IMB] IndyMac: regulators say company no longer well capitalized
The job cuts keep coming and coming.
When you have a fast growing cancer.....pretty soon if you cut enough.....there ain't much worth cutting left.
If you guys think this is your typical downturn/recessioin......there ain't no not anything typical about it.
Never before has costs gone up so fast and revenues contracted so rapidly.
Families, Businesses and Local Governments are suffocating with debt forcing banks to tighten up on credit. The helicoptor Ben plan doesn't work in a rising price environment.
Each day we see more and more businesses shutting down or scaling back.....but the debt keeps rising and rising and the banks are getting tighter and tigher.
Rising defaults, slowing revenues, tightening credit and rising input costs .......get ready for millions of job cuts if this keeps on going.....whoops, we have already had millions of job cuts.....guess get ready for even more millions of job cuts.
There is nothing fun about this....it is simply the facts. Now the question is how do we as a nation deal with the facts.