When today started, it felt like a regular day. My husband had a meeting with the recruiting firm this morning, so he was up and getting ready at the same time as my son and me. For a moment, it felt as if nothing had changed. Or, I'm starting to get used to the situation. I'm not really sure. I have at least been able to concentrate on work today. It has been really difficult to stay on task the past couple of days. My mind wonders a lot. I think about my husband - is he really ok? How can I help him not to worry so much? I think about our son - does he really know what's going on? Are we talking about it too much in front of him? Is this going to affect him more than we know? At least today seems normal.
One of the directors of ImagePoint (my husband's old company) has posted on his blog about why he thinks the company went "in the toilet". Supposedly, Wachovia Bank is the culprit to this particular financial disaster. According to Mr. Mock, Wachovia refused to approve a loan to keep the company afloat. However, Wachovia received money from the Government Bailout (they were acquired by Wells Fargo). Wasn't the bailout intended to help banks keep people from losing their jobs? In addition, we've heard grumblings that what ImagePoint did was not entirely legal. But, at what point do you fight it? The company is gone-kaput-finito. What would fighting the point be worth at this point? As a wise man I know says, "Is the juice worth the squeeze?" My feeling is no. There are better things in store for us. Don't get me wrong-it's infuriating to think about how these people were treated. They were treated as if they were just nothing, had no feelings, had not families to care for - nothing. I have to keep telling myself to let it go. And, I'm just the spouse of an employee.
On a better note, the meeting with the recruiting firm went well. As did the phone interview yesterday. Things are starting to look up. The employer has asked hubby for a face-to-face interview on Thursday afternoon. The huge weight on our chests are starting to lift, at least a little. It is really nice to hear him happy again. He has a nice smile, and it's good to see it again. One thing that has come out of this is that we seem to appreciate each other more. I hear that tough times like this tear people apart. But, for us so far, it's brought us closer together. I just hope this continues. Meanwhile, he has an Open House to attend tomorrow with the recruiting firm. The recruiting firm is hosting the Open House for former ImagePoint technical employees. He's excited that he'll get to see some of his fellow former co-workers. So, now, we're holding out to Thursday.
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"However, Wachovia received money from the Government Bailout (they were acquired by Wells Fargo). Wasn't the bailout intended to help banks keep people from losing their jobs?"
ReplyDeleteThat was what they were supposed to do technically speaking. But what is happening is that the banks which caused this mess in the first place is sitting on those funds. Hoarding if you will. Why? Because their losses are much greater than they are publicly admitting if at all. 350 trillion in total losses by the banks in the upcoming year is just the tip of the iceberg. Even with the 825 billion more they most likely will get, it still won't cover their losses. So, expect more failures as the year goes on. I suggest not keeping all your money in the bank at one time.
I eventually will pull my funds out by year's end, deposits, CD's when they become due, etc...