Global Banking in Trouble

Times are tough. Today Lloyd's announces it will lay off 5,000. Last week Royal Bank of Scotland was letting go 4,000. Much like our US Banking system in UK both banks have receive massive bailouts. Still they are doing terrible. Lloyd's of London is one of world's biggest insurance companies. Few jobs are now being created as nations around the world shed workers in a severe economic recession. The labor unions complain bitterly that tax payer money is being wasted on banks being prop up.