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Monday, March 17, 2008 12:00 AM

Nightmare on Wall Street

Another emergency rate cut, and investment bank Bear Stearns goes on the auction block. The canary in the coal mine? It's dead.
Andrew Leonard

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  • Monday, March 17, 2008 05:32 AM

    It's started...

    ...for myself and a number of people I know, anyway. I was told Friday that I will only be working four days a week until things get better. I went to church and heard of jobs lost entirely yesterday. And then I was talking to another friend who told me of yet more acquaintances who are getting axed.

    Admittedly, this is all anecdotal. But since I am in a field that was supposed to be a safe, safe bet (transportation consulting), I suspect we're just witnessing the tip of the iceberg.

    —Jay Bee Read Jay Bee's other letters

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