NY State is in for some hard times, according to its governor, David Paterson.
[M]ore than 160,000 New Yorkers will lose their jobs during this downturn and the unemployment rate, now 5.8 percent, will reach 6.5 percent. He said personal income is projected to decline 1 percent in 2009 and wages will drop 2.1 percent. By comparison, he said personal income rose 6.5 percent and wages grew 8.6 percent in 2007.
True impact of the credit crunch for normal people.
For the less normal, this spoof on a poor Lehman Brothers banker’s experiences is the more telling because of its grounding in reality:
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