Bush trumpets economy as firms cut jobs; 10,000 jobs cut in last 3 days

[rawstory]

By John Byrne | Raw Story Editor (http://rawstory.com)

Washington Mutual joined J.P. Morgan, Capitol One, Mitsubishi and Eastman Kodak today to push U.S. job cuts announced in the last three days well beyond 10,000. As President Bush tours the country on a whirlwind campaign schedule, American companies continue to slash their payrolls, even though some of them are starting to show profits.

The latest, Washington Mutual, will shed 2,500 jobs and close operations across the country as it tries to improve its struggling mortgage business. The banking company plans to eliminate about 1,840 jobs as it closes retail lending and loan processing offices. The rest of the jobs will be eliminated when the company closes a mortgage loan processing facility in San Antonio.

Meanwhile, J.P. Morgan would have been profitable save a one-time charge for litigation, the Delaware News-Journal reports.

http://www.bluelemur.com/index.php?p=125

[mrbassman03]

1. WOOOOO! Go economy!

While I do not have a problem with outsourcing, this is pretty ridiculous and much larger than educated Indians writing my next version of Word.

[newyawker99]

5. Hi mrbassman03!!

Welcome to DU!! :toast:

[truthisfreedom]

2. i love that headline. bush trumpets economy as firms cut jobs. while Nero

fiddled, Rome burned. they even squeezed in the musical instrument!

[Senior citizen]

3. I heard something on National rePUBLICan Radio

about how the economy is improving (although most people can't seem to see it yet). Hah! I turned it off quickly. Just another, "Who are you going to believe--me or your lying eyes?"

The economy is improving, the world is safer, and the war in Iraq is going well. Sure. Hard to believe the polls--are there really almost half the registered voters out there who'd buy the Brooklyn Bridge if this fascist regime sold it to them?

[kungfugrip]

4. the new tactic as shown on Cavuto is...

The Stock Market dipped below 10000 because Bush might lose. Of course its got nothing to do with his policys.

So...according to Fox...vote for Bush or your all gonna die and the market will crash