The first casualty from the financial meltdown – Bank of America decides massive layoff and fires its head of Global Corporate and Investment Banking unit
Sue Brown
Oct. 24, 2007

The days of merger mania in Banking is over. The financial meltdown is forcing Banks to realize what they have created for themselves. The 200-year banking cycle calls for banking collapse. The chilling realization is passing through the bones of these massive banks that pride themselves for disciplined investment but in reality they gambled with the money of the rich as well as the common people.

The first real casualty from the financial meltdown is here. Bank of America decides massive layoff and fires its head of Global Corporate and Investment Banking unit.

While the whole world is busy thinking about iPhones and iPod, the financial meltdown and debt-servicing load of the economy is imploding. The implosion is severe and has the potential of a massive collapse in financial systems simi9lar to 1907.

The first casualty from the financial meltdown – Bank of America decides massive layoff and fires its head of Global Corporate and Investment Banking unit
Sue Brown
While the whole world is busy thinking about iPhones and iPod, the financial meltdown and debt-servicing load of the economy is imploding. The implosion is severe and has the potential of a massive collapse in financial systems simi9lar to 1907.
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Median home price dropped 4.2% from a year earlier – analytics and quantitative model show 30% price retraction on the cards if economy tanks into recession
Marla Guthrie
Existing-home sales fell 8% in September amid continued problems in the mortgage market.. The median home price dropped 4.2% from a year earlier. The single-family sales hitting their lowest sales pace in nearly 10 years.
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With Boeing's negative guidance, the stock market is in real trouble – when the leader succumbs so goes the battle
Karen Zuba
Based on historical data, before past major recessions and stock market bear markets, prospering companies started falling four months before major market crack and ten months before the R word was common in the main street.
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Bush tax cut for the rich and proceeds from Iraq lost in bad loans – greed of the wealthy creates the biggest financial meltdown
Peter Oberois
Still they talk about flipping without flopping. Still they want to fool the common people and sell mortgages to those who can never afford the homes in the first place. They have taken their scam to the emerging countries like India and China now.
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Stock market realizes the depth of credit related trouble from Merrill results and possibility of real estate depression
Sam Adelton
The Merrill result just confirms that we are looking at the tip of the iceberg as far as the credit related trouble is concerned. A sharp September drop in existing home sales confirmed the deep depression in residential real estate.
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UPS guidance, residential real estate price fall, rising bankruptcies – all point to a nasty recession – why is stock market so confident?
Alex Brown
UPS guidance, residential real estate price fall, rising bankruptcies – all point to a nasty recession – why is stock market so confident?
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History repeating – the classical disconnect between middle class common people and the rich shows a big bear market in stocks is here
Paula Ranske
Simply put, when the economy divides into two halves – the rich and the rest, the stock market and the economy goes into a downward cycle driven by the deflation.
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