This is one of the biggest problems with American businesses - the very top ruin the company while receiving obscene compensation for their ineptitude (unless they are going to follow Goldman Sachs lead and not take any compensatory bonuses this year), but it's the workers at the very bottom who get canned.
And of that worldwide layoff, I wonder how many of the call center workers based in India are going to be laid off?
And why are banks allowed to get so big that they become such liabilities? Smaller banks are much more customer friendly, charge less for services and are more willing to loan to people they know. The huge banks exist primarily to serve large corporations, not the individual.
And if they think they're having problems now, just wait and see what happens when the credit card bubble bursts. Yikes!
So Citibank, if my checks are returned for "insufficient funds" will that be my fault or yours?
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