with all the jobs currently lost and eventually lost on Wass Strett and the rest of the banking sector,where are all these unemployed going to find work; on farms? seriously,what other skills do most of these people have other than banking? who the hell will hire all these people? at least a manufacturer can find work at a warehouse,trucking company,ect... a bank employee only knows banking. this post is'nt meant to be comical,its a real concern. when there are massive layoff's in a certain industry,especially blue collar(which usually gets hit),most can easily go into another sector. we are now talking white collar workers making 150k per year that will not find a job in their area of expertise. where will they go?
If they are smart, the ones with money will buy small farms or plots of land and learn the skills needed for self sufficiency.
think about it. its easy for a former gm manfufacturer or a electronic manufactuer to find work at a trucking company,an assembly line,a food company ecttt where will a bank employee go? certainly not to another bank,there won't be a job. they better get used to hearing the sounds of :fill her up with regular"...
This is a simple one. In 2003, my friend was telling me about some guys at a fitness center (who were then personal trainers) going into the mortgage business. These guys are probably out of the business by now. They will simply go back to what they were doing before as personal trainers. If they were smart, then they would have made and saved as much as they could. In the same way, if those Wall Street bankers were smart then they would have made every attempt to save for the future. However, there are plenty of guys out there that I know who were making 200k+bonus who did not save a dime. Where did it all go? This one guy I knew would go out every night in NYC buying drinks for everyone. One night I saw him buy $400 in drinks for a large group of women who just walked off who he never saw again. The money was pissed away to the merchants and such. The question is not what these Wall Street employees will do. Most of them have a fair amount of education and background to get a decent job. Some of them probably have some savings. What will the waiters, bartenders, and all the other businesses they effected do? Without guys buying hundreds in drinks who will tip the waiters? What will happen to all the delis and restaurants they visited? Dont worry about the Wall Street guys. Worry about the guys they bought from each day...
You are underestimating these cockroaches. Most of these guys are well polished, well connected and good at BSing. They'll move into other industries and replace the management teams in those sectors. They are down, but not out. Just wait and you'll see!
most of them couldn't make it as personal trainers. a personal trainer is a luxury which people will drop in hard times
Hmm, if any of them were really smart, they would found a bank holding company and get some of that FREE MONEY.