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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (125298)	5/25/2008 2:17:31 PM
From: Peter V	Read Replies (1) \| Respond to of 306849

I guess this article strikes a chord with this forum, since this is the third time it's been posted in as many days.

To: bentway who wrote (125298)	5/25/2008 2:35:21 PM
From: CBurnett	Read Replies (2) \| Respond to of 306849

What makes Bankers so special that they can't experience the financial hell so many Blue Collar workers endure their entire working lives ? Auto workers, construction industry people and other manufacturing sectors are prone to market swings. They just suck it up. Bankers....LOL Now their's a useful skill.

To: bentway who wrote (125298)	5/25/2008 2:59:57 PM
From: pheilman_	Respond to of 306849

( Why is it I don't really give a damn? I usually feel for the displaced worker. ) Why don't I give a damn either? This phrase: She had been in the industry for more than 15 years, and at Bank of America for five. But she was quick to say that no one should have a “pity party” for her when people earning far less were losing their jobs. In good years, with a good bonus, she earned as much as $400,000. Really? Really? You earned 400K and that skill is no longer needed? More like WS figured out how to extract 4-8x more from the economy than was ~justified for a decade and now it is over and those salaries and jobs are going away. Not that they are being shifted overseas or to non-union factories, just going away. There are no more Norwegian town councils to cheat, no more crazy home speculators to entrap, no more huge funds desperate for yield willing to ignore risk, no more cover provided by lap dog rating agencies. Now that they are a little bit pregnant with the FRB, WS is going to have restrictive rules similar to banks. Couldn't happen to a more parasitic group of arrogant rulers of the universe.