How is the Wall Street Crisis Affecting You in NY?
Thursday, October 16th, 2008
We want to know what the ‘trickle down’ effect of the current banking crisis on Wall Street is affecting your life, your job, your housing situation, or how you anticipate it may affect your future. Please tell us your stories, in the comments fields below.
Watch NY Voices’ “Financial Crisis And The City (Part II)“.
Also see the first “Financial Crisis And The City” report, which aired on 9/23/2008.
This downfall of both the mortgage industry as well as Wall Street is prohibiting my husband, who is a Police Sergeant from getting a raise as well as being promoted to Lieutenant. This is killing us financially because of the fact that I have been in the mortgage industry for thirteen years, and with the mortgage meltdown I have taken over a forty thousand dollar pay cut in the last two years, and as most other Americans my mortgage payment has gone up.
I’m a self employed executive recruiter of over 16 years. The number of job orders I have to fill has slowed to trickle. Based on the information I have things are getting worse. If my business is to survive, it will be on the strength of the customers who’ve relied on me for years. I’ve canceled family vacations and projects for our home. I’ve had to cut back on the services my business uses. But the worst part is taking the calls from talented professionals who are desperate for work.
I’m fortunate, because I have a job that seems fairly secure. At this time, the greatest impact is on my (self-funded) pension plan. The way the stock market has been going, I’m going to have to work until I’m 70 or more - just to be able to pay the basic bills.
This was the most depressing program I’ve ever seen, but I could turn away. As Rohatyn observed, we are very “nervous” and I think that sums it up. Even if you have a job, you’re scared. Two more years of this?? I don’t know if I can take it. Great show.
well kmart shoppers..it could get real ugly..im a native nyc person of the male sex..divorced..what else is new..born here..and saw my towers destroyed by busco..no it wasnt some arab in a tubine in a cave folks..i work for the city..im high on the list.i cant loose y job..thats not what pisses me off.its the money being turned into toilet paper.if the banks go kaboom..im screwed..i never wanted a 401k..i have a pension plan already for over 23 years and i saw this meltdown coming i screamed and ranted over the several blogs i infest..just likemy towe..i could have called the fbi the night before..hells bells when i heard rumsfeld tell lou dobbs from cnn that there will be a hit on the pentagon…he said it..im not making it up..he then stated oh were going to get a handle on the 9 or so billion that flows thru the pentgroin..lous eyes rolled back in his sockets…my country is being readyed for its trip into hell..see they found huge mega reserves of oil in indonesian and the north pole over russia..they the neocons plan to flood the market with cheap crude..gas will then be less than 2 $ a gallon the arabs will then be bankrupped..and be riding camels again…think im crazy? watch the cost of a barrel fall down to 50.00 a barrel…then our arab friends will start ww3 with us..its whats being planned right now…and where is kenny lay..alive and well with his old sidekick..old benny lardon..in switzerland..in a swiss chalay..snorting coke and burning your money..sorry but i have to go out and destroy some of these people..
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