And Another One Bites the Dust

[treehugger1]

Truth is...

AP
Mortgage Crisis Forces Big Cuts at WaMu
Monday December 10, 10:07 pm ET
By Jessica Mintz, AP Business Writer
Mortgage Problems Force WaMu to Close Offices, Fire Workers and Drop Subprime Loans


SEATTLE (AP) -- Washington Mutual Inc., the nation's largest savings and loan, said Monday that problems in the mortgage and credit markets are forcing it to close offices, lay off more than 3,000 workers and set aside up to $1.6 billion for loan losses in the fourth quarter.

[Minnymouth]

I'm afraid we are going to see a windfall of people getting "laid off" and losing their jobs...... from the mortgage companies, banks, all the way down to the contractors and builders......

It doesn't look good, folks...................

[lrprn]

I see a lot more new forum members headed our way in the coming months. I'm glad we'll be there for them....just wish that our Congress had been smarter about making hard decisions instead of being so easily corrupted by lots and lots of cash so that now so many have no homes and have no jobs

[chpxiii]

Economists are saying that maybe a recession is starting.

"Maybe?"

I say we've already BEEN in a recession. *Yet again.*

I'm still recovering from 2001. grrr...

[silverlotus]

I hate to be one of those "Oh no, it's the Great Depression!" people, but the people IN the depression were homeless and didn't really see it as the Great Depression. From the inside, it was "rough times." It wasn't an economic disaster.

I feel like that's where alot of people are. We have the internet and news on demand so we can see more then people back then if we choose to. But I think it's a hard reality to admit.

[rrockinggramma]

I suspect that after the first of the year, when the bills come in and the resolutions to get finances in order is top priority, the forum will have a lot of new members. Can you imagine all of those people out there that are losing their homes? I know the trauma I felt when I let mine go. The stress was unbelievable. In fact I found it hard to even pay off a 10.00 bill cause I was just frozen as to what to do next. I feel for all of them and for the thousands that have lost their jobs. There really aren't other jobs out there to replace them. If that isn't recession, then what is?

[leftyf]

Better beef up the server...the hoardes are a comin'!