Paulson and Geithner vindicated! Wall Street recovery faster than the national economy.

[w¡n9Nµ7 §£@¥€r 123]

This is good news for our local economy here in the NY metro area

Nov. 17 (Bloomberg) -- Wall Street is recovering faster than the national economy, with New York City’s four largest investment firms reaping profits of $22.6 billion through Sept. 30 after losing more than $40.3 billion last year, state Comptroller Thomas DiNapoli reported.

DiNapoli’s annual report on the city’s securities industry also found that job cuts following the worst credit crunch since the Great Depression may not exceed 35,000. The total is about what Wall Street lost following the 2001 recession and terrorist attacks and less than the 47,000 officials predicted when preparing the city’s June financial plan.

While the six largest U.S. bank holding companies set aside $112 billion for compensation in the first nine months and bonus pools, including stock options, income-tax collections have suffered from federal government moves to restrict cash bonuses and defer pay to curb risk-taking, according to the report.

...

Wall Street “may still experience setbacks,” should the economic recovery falter, and businesses and consumers still experience difficulty obtaining credit, according to the report.

...

Total job losses in New York City are unlikely to exceed 175,000, the comptroller’s office forecast. While that will hurt the local economy, the reductions will be less than the city’s June 2009 forecast of 328,000 terminated positions.

http://www.bloomberg.com/apps/news?pid=206...z33aA&pos=7

[Joseph & Ana 0]

Economy growing but unemployment rising.... hmmmm 10.2%

Must be growth of government.

[w¡n9Nµ7 §£@¥€r 123]

Economy growing but unemployment rising.... hmmmm 10.2%

Must be growth of government.

Wall Street is hiring! Most recently laid off IT people I know have landed contract gigs on the street. The problem is they're not adding FTE's yet. I guess that will take time.

[Joseph & Ana 0]

Economy growing but unemployment rising.... hmmmm 10.2%

Must be growth of government.

Wall Street is hiring! Most recently laid off IT people I know have landed contract gigs on the street. The problem is they're not adding FTE's yet. I guess that will take time.

I guess thats explainable. Where did the bailouts go?

[w¡n9Nµ7 §£@¥€r 123]

Economy growing but unemployment rising.... hmmmm 10.2%

Must be growth of government.

Wall Street is hiring! Most recently laid off IT people I know have landed contract gigs on the street. The problem is they're not adding FTE's yet. I guess that will take time.

I guess thats explainable. Where did the bailouts go?

Wall Street, where they belong

[Joseph & Ana 0]

Economy growing but unemployment rising.... hmmmm 10.2%

Must be growth of government.

Wall Street is hiring! Most recently laid off IT people I know have landed contract gigs on the street. The problem is they're not adding FTE's yet. I guess that will take time.

I guess thats explainable. Where did the bailouts go?

Wall Street, where they belong

So the stock market grows while everyone else loses their jobs.. Sounds great!

[w¡n9Nµ7 §£@¥€r 123]

Economy growing but unemployment rising.... hmmmm 10.2%

Must be growth of government.

Wall Street is hiring! Most recently laid off IT people I know have landed contract gigs on the street. The problem is they're not adding FTE's yet. I guess that will take time.

I guess thats explainable. Where did the bailouts go?

Wall Street, where they belong

So the stock market grows while everyone else loses their jobs.. Sounds great!

People with marketable skills are finding jobs

[Joseph & Ana 0]

Economy growing but unemployment rising.... hmmmm 10.2%

Must be growth of government.

Wall Street is hiring! Most recently laid off IT people I know have landed contract gigs on the street. The problem is they're not adding FTE's yet. I guess that will take time.

I guess thats explainable. Where did the bailouts go?

Wall Street, where they belong

So the stock market grows while everyone else loses their jobs.. Sounds great!

People with marketable skills are finding jobs

Nice copout.

[w¡n9Nµ7 §£@¥€r 123]

Economy growing but unemployment rising.... hmmmm 10.2%

Must be growth of government.

Wall Street is hiring! Most recently laid off IT people I know have landed contract gigs on the street. The problem is they're not adding FTE's yet. I guess that will take time.

I guess thats explainable. Where did the bailouts go?

Wall Street, where they belong

So the stock market grows while everyone else loses their jobs.. Sounds great!

People with marketable skills are finding jobs

Nice copout.

Everything I see around me says it's true. Wall Street is hiring. If you're unemployed all you need to do is get a real education.

[Joseph & Ana 0]

Economy growing but unemployment rising.... hmmmm 10.2%

Must be growth of government.

Wall Street is hiring! Most recently laid off IT people I know have landed contract gigs on the street. The problem is they're not adding FTE's yet. I guess that will take time.

I guess thats explainable. Where did the bailouts go?

Wall Street, where they belong

So the stock market grows while everyone else loses their jobs.. Sounds great!

People with marketable skills are finding jobs

Nice copout.

Everything I see around me says it's true. Wall Street is hiring. If you're unemployed all you need to do is get a real education.

I guess during the depression only those with "marketable skills" were finding jobs. There is truth to that, but its an imbecilic concept. I could say it if there were 99% unemployment, and it would be just as true. Which is why its a copout.

I have a job - pretty secure one at that. But I have family and friends with impressive resume's and education who cannot find a job. In fact my engineering supervisor who is leaving the company cannot find a job for the life of him. He's found them in South Africa and China, but nothing in the USA. None of them are Wall street potential, but there is clearly a problem in this country. Its also telling that most of the bailout went to wall street.

[w¡n9Nµ7 §£@¥€r 123]

None of them are Wall street potential...

So they're losers. Nuff said.

[Mr. Big Dog 10,747]

None of them are Wall street potential...

So they're losers. Nuff said.

[scandal 951]

Wall Street is hiring! Most recently laid off IT people I know have landed contract gigs on the street. The problem is they're not adding FTE's yet. I guess that will take time.

We're hiring. Full time positions. And we didn't take any stimulus money.

[alienlovechild 75]

So the Wall Street types that liberals usually detest are now heroes because there has be a bright spot somewhere in the Obamian economy. The rich get rich and the poor get poorer. Anything less than a 3% increase in GDP means no real reduction in unemployment.