Rumor that ML has $8 billion in writedowns coming up and laying off 10-15% of the I-Bank
This news really sucks:
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you called it.
http://www.wallstreetoasis.com/forums/last-one-out
Most knew it was a long time coming
nuff said
A lot of my friends have been taken down and/or are will be affected by this latest wave.
Things are starting to look a lot like 2001-2003.
I certainly don't think ML is going to pull a Bear Stearns and collapse on us, but I feel sorry for friends there. Definitely not a good time to be in the industry, and it really sucks for people who just started this year... at least for those starting next year there is a chance things will improve by then.
The mood in finance currently is very, very depressing.
it really makes you wonder when this will all be over
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