One-Half million fewer taxpayers to pay for bailout as job losses continue

What are the long-term effects of excesses and duplicity in the housing market? Employers slashed 533,000 jobs in November 2008, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession. Naive economists thought 330,000 jobs would go away, showing how over half a million …

60-day notice for 4000 WaMu employees

J.P. Morgan Chase & Co. announced plans to lay off about 21% of Washington Mutual Inc.’s employees by the end of 2009. J.P. Morgan, which acquired WaMu in September for $1.9 billion after it was seized by the government, told employees yesterday that it will lay off 4,000 workers by the end of January, according …