J.P. Morgan Chase & Co. plans to lay off nearly 4,000 investment bankers from its investment banking group, Bloomberg News reported Friday, citing people familiar with the situation. Earlier this year, J.P. Morgan announced that 2,000 bankers would be laid off and CEO William Harrison had announced more cuts last week. However, Harrison did not give a final number. A J.P. Morgan (JPM: news, chart, profile) spokesman declined comment.
finance.yahoo.com
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THOMAS A. EDISON
"People who will not turn a shovel full of dirt on the project (Muscle Shoals Dam) nor contribute a pound of material, will collect more money from the United States that will the People who supply all the material and do all the work. This is the terrible thing about interest... But here is the point: If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Constitution, pays nobody but those who contribute in some useful way. It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People. If the currency issued by the People were no good, then the bonds would be no good, either. It is a terrible situation when the Government, to insure the National Wealth, must go in debt and submit to the ruinous interest charges at the hands of men who control the fictitious value of gold. Interest is the invention of Satan."
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JAMES A. GARFIELD
"Whoever controls the volume of money in any country is absolute master of all industry and commerce."
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ABRAHAM LINCOLN
"The money power preys upon the Nation in times of peace, and conspires against it in times of adversity. It is more despotic than monarchy, more insolent that autocracy, more selfish than bureaucracy. It denounces, as public enemies, all who question its methods or throw light upon its crimes." "The Government should create, issue and circulate all the money and currency needed to satisfy the spending power of the Government and the buying power of the Consumers." (Shortly before his assassination): "I see in the near future a crisis approaching that unnerves me and causes me to trouble for the safety of my Country; corporations have been enthroned, an era of corruption in high places will follow, and the money power of the Country will endeavor to prolong its reign by working upon the prejudices of the People, until the wealth is aggregated in a few hands, and the Republic is destroyed."
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our generation has not suffered under the "yoke" as the coming generations will. Usury and taxes will continue to take a larger and larger part of the annual earnings of the people and put them into the pockets of the Bankers and their political Agents. Increasing "government" regulations will prevent citizen protest and opposition to their control. Is it possible that your grandchildren will own neither home nor car, but will live in "government-owned" apartments and ride to work in "government-owned" buses (both paying usury to the Bankers) AND BE ALLOWED TO KEEP JUST ENOUGH OF THEIR EARNINGS TO BUY A MINIMUM OF FOOD AND CLOTHING while their Rulers wallow in luxury? In other countries of the world we would call it "communism," while in United States it is called "Democracy" and "Capitalism."
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ROBERT H. HEMPHILL (Credit Manager of Federal Reserve Bank, Atlanta, Ga.): "This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely- without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon". |
