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The banks don't love you...


Twilight Circuits

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Now before we all start going "Thanks Captain Obvious..." I was researching some old money i had in my collection and came across this article:

 

New York - Tuesday, JP Morgan bank announced plans to shed 4000 jobs or 1.5 percent of it's work force despite a return of profitability.

Last year, U.S. President Barack Obama said that JP Morgan is "one fo the best-managed banks there is" and called Chief Executive Jaimie Dimon "one of the smartest bankers."

Obama, whose net worth tops $11.8 million, most of which he has obtained during his time as President, held at least two accounts at JP Morgan as of last year.

The bank is set to shrink it's workforce with a focus on consumer banking and mortgages. Many of the lost jobs will be the result of layoffs however many more will come from attrition according to Reuters report.

During 2012, JP Morgan axed about 1200 jobs and the current jobs will be shed despite increased profits. The job cuts will shrink JPMorgan's work force by 1.5 percent and are part of the bank's larger cost-cutting campaign revealed in a presentation to investors Tuesday morning. JPMorgan previously announced plans to shed 13000 to 15000 jobs by 2014, suggesting there are more cuts coming.

JPMorgan Chase as a whole reportedly earning 21.9 billion last year, excluding accounting charges linked to changes in the value of it's debt. The bank said it has the potential to earn about 27.5 billion, thanks in part to efficiency gains. It aims to cut overall expenses by $1 billion in 2013.

 

 

And there you have it. The rich careth not as long as their falsehood returns to from whence it came.

 

Fuck you, bankers.

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We need Andrew Jackson back! He fought the banks!

 

 

I think even his last words were, when someone asked him what was his favorite accomplishment "I beat the bank"

  • Brohoof 4
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We need Andrew Jackson back! He fought the banks!

 

 

I think even his last words were, when someone asked him what was his favorite accomplishment "I beat the bank"

Even Celestia agrees with these lines of scripture from Family Appreciation Day:

21:19 For this apple, Jack. Sees the rich

21:23 Pushing others around

21:26 Causing this apple, Jack, to laugh at thee

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I'm going to play devil's advocate for a minute and suggest that they are going automated, and that is why they are cutting so many jobs. They probably plan to use the increase in profits from before to pay for machines to do the work that the workers did, which saves them money in the long run.

 

Or they could just be plain evil. I don't know.

images?q=tbn:ANd9GcRzDHgtVGSkMcO0cJiaQUu

  • Brohoof 1
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A private business is trying to make a profit?

 

Oh God, how horrible D:

 

 

But anyway, yeah, that's what happens when the economy goes to shit; businesses lose money, so they have to downsize, and that means people lose jobs.

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It's all about maximizing profits so banks and box retailers have to cut down on employees, still beats working black friday shifts at box retailers where dozens die every year.

 

The poor should help themselves instead of relying on welfare and charity.

  • Brohoof 1
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well, I would call that how our economy works...

I have stopped wondering about things like those quite a time ago, what you have there is one example of many...

the money makes the decisions, not the heart, neither the conscience.

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