CrusaderFrank
Diamond Member
- May 20, 2009
- 148,642
- 71,960
- 2,330
Shaman, as perhaps the only USMB poster who does not have you on ignore, I'm telling you in complete seriousness -- there's something seriously fucking wrong with you
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Shaman, as perhaps the only USMB poster who does not have you on ignore, I'm telling you in complete seriousness -- there's something seriously fucking wrong with you
Someone gave Shaman fresh crayons.
Out of all the people republicans hate for no good reason this one puzzles me the most, I can see fatcat banker types being full of fear and loathing but the regular everyday people who know banks and lenders are not to be entirely trusted should feel different. Oh well, add that to the long list of counter-intuitive things about working class republicans.
"JP Morgan is trimming about 4,000 jobs, or about 1.5 percent of its work force, becoming the latest big bank to shrink its staff.
The bank said the cuts will be focused in consumer banking and mortgages. Many of the cuts would come through attrition, but the bank will lay off workers as well, a bank spokeswoman said.
The cuts were revealed in a presentation to investors Tuesday. They are part of the bank's bigger cost-cutting campaign. They come after a year when the bank increased profit and revenue.
The move could signal a new direction for staffing: JPMorgan already shed about 1,200 jobs in 2012, after adding jobs in 2011 and 2010.
Job cuts have become a familiar story in the banking industry. Banks are navigating new government regulations that have crimped some old sources of revenue, like issuing credit cards to students or trading for the bank's own profit. The banks have also said that complying with the new regulations is costing them more money.
Bank of America, Citigroup, Morgan Stanley and Goldman Sachs all trimmed jobs in 2012. Morgan Stanley's current round of job cuts has focused on senior ranks and investment bankers. Bank of America has said it needs fewer people to work through problem mortgages, though it has cut jobs in other areas. Citigroup is scaling back in countries that it no longer sees as growth engines."
"Senator Elizabeth Warren made a big splash at her first hearing of the Senate Banking Committee recently when she went after regulators for failing to be more aggressive with such big banks as HSBC, which had just paid a $1.9 billion fine for money laundering. I used the occasion for a column speculating that, despite her freshman status and a Senate culture that frowns on new members speaking out, Warren could be more effective (and be so much sooner) than many people realize.
Being effective is not the same thing as passing legislation. The latter is difficult for any freshmanheck, in todays broken Senate, passing legislation is difficult, period. My point was that Warren appeared to grasp that there were other ways besides legislation to influence the government and the banking system.
Bankers are bracing for the start of more severe anti-money laundering exams as regulators rework their standards and prepare to issue another round of guidance tackling the issue."
Elizabeth Warren's brilliant.
I can see where the randian extremists would have a problem with her.
That would be a conservative's dream Democratic ticket!
You're lying again!