Wall St will cut 10,000 jobs through 2012

NEW YORK (MarketWatch) — The securities industry in New York City faces likely job cuts of nearly 10,000 through 2012 as Wall Street banks cope with lower trading revenue, new regulations restricting their activities, and bruised stock prices, according to a new report.

http://www.marketwatch.com/story/ny-faces-10000-wall-st-cuts-through-2012-2011-10-11

 

Good. Too much power has been concentrated in NYC for too long.