Monthly Archives: July 2009
The bonuses paid out to employees exceeds profits. And don’t forget that they got bailout money. Wow.
I’m sure you’ve heard about this week’s cover of Newsweek saying that the recession is over. It sure doesn’t feel like it’s over. I feel like a broken record each time I cite a media organization that has declared that the recession is over. The President doesn’t think it’s over either:
“I don’t know whether you’ve seen the cover of the latest NEWSWEEK magazine on the rack at the grocery store, but the cover says, “The Recession Is Over!”I bet you found that news a little startling. I know I did. Now, it’s true that we’ve stopped the free fall. The market is up and the financial system is no longer on the verge of collapse. We’re losing jobs at nearly half the rate we were when I took office six months ago. So, we may be seeing the beginning of the end of the recession. But that’s little comfort if you’re one of the folks who have lost their job, and haven’t found another …”