Citi CEO is expected to announce major cuts today (20,000? 35,000?) and rival JPMorgan Chase is rumored to be announcing 10% cuts, similar to Goldman Sachs. It's no surprise that the Wall Street giants are adding to previous cuts as it becomes more obvious to everyone that this economy is not going to turn around any time soon.
Adding to previous cuts in an already decimated industry, McClatchy will be slashing another 10% in addition to the previous cuts. What a way to end the year.
Obama Administration Considering Giving in to Deficit-Mania
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TARP, the much-derided Troubled Asset Relief Program, has an odd structure.
$700 billion in expenditures were authorized, but the program was structured
su...
17 minutes ago
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