In our recessionary times, the federal government prints trillions for distribution to failing companies. In return, the benefitting firms shed jobs. For a snapshot of this economic undevelopment, see below:
1. CitiBank slashed 53,000 jobs for $45 billion, plus $306 billion in loan guarantees
2. UBS cut 13,500 positions for $60 billion
3. The Carlyle Group dropped 100 jobs while affiliate Boston Private Financial Holdings netted $153 million
It's a good thing Carlyle didn't get billions in support. Think of all the jobs they could cut in return.
1. CitiBank slashed 53,000 jobs for $45 billion, plus $306 billion in loan guarantees
2. UBS cut 13,500 positions for $60 billion
3. The Carlyle Group dropped 100 jobs while affiliate Boston Private Financial Holdings netted $153 million
It's a good thing Carlyle didn't get billions in support. Think of all the jobs they could cut in return.
