Ken Lewis & BAC are crooks..
How so many can believe what they spin and what this crook says is beyond me and why today's government acts as if the majority of citizens are stupid and really know nothing; much like Bernard Goldberg stated last night on O'Reilley factor as well...
Today's jobs numbers are worse in nearly 30 years (millions of jobs gone from USA as well) and all this talk of "less worse" is disgusting to hear when fact is market is way overbought and as my CPA and others believe is happening, is someone inside the US govt has been buying into stocks to make a superficial rally in the DOW, until they can short to recoup massive losses again, as NOTHING in the US economy reflects the movement of the stock market nor what has been going on with banks trying to look like humanitarians when they created this mess that will hurt the US for decades to come at the rate the government is going! It all is another sham on the masses...
Here is crux of today's jobs numbers and what I laugh at, is the last 2 months now have been revised worse than reported then (at that time they said it was getting better and less worse remember?); and I expect today's numbers will be revised worse next month as well, as Obama's administration and others know the truth and are trying to not let the public know it to avoid what is inevitable- another massive leg down on DOW to revisit 6000 level as it should NOT be as high as it is in 4-6 weeks after a generation of massive growth that ran it up to the heigths it was at, and no way this economy has corrected in a few weeks what took decades to create either...::
Payrolls drop by 539,000; jobless rate up to 8.9%
8:46a ET May 8, 2009 (MarketWatch)
WASHINGTON (MarketWatch) - The U.S. economy continued to shed jobs at a horrendous pace in April, with nonfarm payrolls falling by 539,000 and the unemployment rate jumping to a 26-year high of 8.9%, the Department of Labor reported Friday.
The report was largely as expected, reflecting an easing in the pace of massive job destruction from the previous five months. Since the recession began in December 2007, payrolls have fallen by 5.7 million, or 4.1% of payrolls, the largest percentage decline since the 1958 recession.
April's loss of 539,000 jobs was the smallest decline since October's 380,000. Job losses in February and March were revised higher by 66,000.
Job losses were widespread across industries in April. The only sectors adding jobs were health care and government, which was boosted by the hiring of temporary workers to prepare for the census next year. Private-sector employment fell by 611,000.
