More Gannett Cuts: Des Moines Register and Courier-Journal

yeh this could be just the start of the job cuts

It's scary the number of companies that are making cuts. My friend just got made redundant. :-(

Redundancy is becoming a sad but true thing for so many people lately. I have had 2 friends here in the UK lose their jobs in the past few weeks. Something needs to be done, but I can't see it happening anytime soon!

How on earth can all this happen just because some greedy banks made a few bad loans? Well, a lot of bad loans. This mess is going to take years to recover from.

This had very little to do with 'greedy banks' and a lot to do with 'greedy politicians' trying to do social engineering in the housing markets. In a nutshell, Democrat politicians (led by Bill Clinton) wanted to increase home ownership among the poor. They convinced Freddimac and Fanniemae to insure more high risk, subprime loans and coerced bank into making these risky loans by threatening them with charges of 'Redlining' if they didn't cooperate. In an effort to protect themselves from these high risk loans the banks resold them as federally insured mortgage backed securities. Naturally a large number of these loans went bad because, lets face it, poor people can't afford home ownership! Eventually, Freddiemac and Fanniemae were overwhelmed by the losses and went bankrupt. That made those 'federally insured mortgage backed securities' very undesirable to own and their values plunged, and banks and other institutions that owned a lot of them suddenly had huge losses on their books. In 2005, Republican lawmakers tried desperately to curtail the growth of the subprime mortgage market, but were blocked by Democrats.

Unfortunately the current recession is hurting a lot of people..
Lets hope we get thru it real quick and move on

A lot of the problems occur because no one is held account able there paid millions in bonus for short term performance

that's bad news :(
that's why i starting looking for new job

It's real sad how everything is just falling apart, i hope the new president is able to make changes to the crisis we are in because many people are going to struggle and the worse is yet to come.

This is bad news, hopefully it won't last too long

In this economic climate, it's not surprising that there are so many redundancies these days. It's quite sad really.

My uncle was one of the ones that just got cut from the Louisville Courier Journal...

I wonder if the internet papers are having an effect finally on the real papers?

it is sad

Matt Cutts is the man, a must read blog for any internet marketer. We are well aware of the recession, its time to work harder than ever.

Clearly we are facing difficult times. Lets hope our economy gets back up pretty soon. Good luck to everyone that lost his job.

It's the same across the pond.
I can only count myself fortunate that the need for door staff in sheffield has risen rather than dropped. No matter how bad things get, people still need to go out to events, clubs etc just to de-stress and let the hair down.

2009 is supposed to be one of the worst years in decades as far as economy growth. surely we are headed twords a major recession. I hope everyone of these laid of employees saved a little for hard times

Yes it does seem to be getting worst before getting better but not all areas of the economy are failing, for example the education sector is actually growing.

Starting from late 2008 economic crisis has gone deeply into every area of bussiness. Our newspaper where i work lost more than 150 work places just last month and now we are all in unpaid vacation. Although skeptical i believe that this year thing will go better for all of us. With the new president and big promises we may live to see it all go up again. After all everything has a peak and down side. Cheers.

Sad. :(

Lets hope that Obama can make our country a better place.

It's sad the way things are and yet those with money will see this as an ideal time to invest for the future. Mind you a bit of foresight and a crystal ball would help!

Unfortunately the current recession is hurting a lot of people..
Lets hope we get thru it real quick and move on

Hope this recession will end soon and everything backs to normal.

very intesting hopefully it won't last long