[Milu]

Worldwide it seems that a lot of banks and big name corporations are in serious trouble and are likely to go under or are taking aggressive action to avoid it such as laying off a lot of staff, selling assets etc.

In some cases I am sure they are taking advantage of the situation to get rid of a lot of deadwood from positions that should never have been created and filled by people that should never have been hired. The consequence of this all happening at once is that a lot of these people (especially the older ones) will probably never work in their profession (generous use of the word profession) again. I anticipate a lot of first novels, so called "consultants" touting for work and new one-man and a dog business start-ups.

I don't see a lot of hope until we return to a genuine production based economy where workers at all levels perform and are paid for genuine productive work. This oviusly includes everyone from the cleaner to the customer service rep, to the general manager to the bank officer.