(ZeroHedge) Just days after JPMorgan revealed it would fire another 5,000 by the end of the year in a “scalpel” headcount reduction, overnight the world’s favorite drug money laundering bank HSBC unleashed the “machete” and announced it would cut almost 50,000 workers, or one in five bankers, a move which would shrink the investment bank division by one-third. 
The reason: the same why US corporations are laying off tens of thousands so they can fund record stock buybacks and enrich their shareholders – to boost profits so that more money can be channeled in the form of dividends.
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If you get the sense that things are picking up in terms of pace, you’re not alone. And we just learned that the ECB/EU will fine member nations who do not pass the now-mandatory Bail-In legislation… in the next two months.
WE HAVE BEEN WARNED
LT
~Those who abuse Liberty, sentence themselves to Death!
