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07.15.08, 18:02 PM General Topics
36 replies
To the Banker who thinks she is Ayn Rand: Your job and job prospects are drying up the financial community and related industries implode. I certainly hope you don't have to put your money where your mouth is. [ Reply | Watch | Flag ]
General Topics 07.15.08, 06:02 PM Flag
 

Dear UrbanBaby community,

Thank you so much for being a valued member of the UrbanBaby community. We wanted to inform you that we are shutting down the site on July 6th. We are grateful for your participation and support that has helped make UrbanBaby such an important resource to parents for many years.

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I was just thinking that;) [ Reply | More
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General Topics 07.15.08, 06:12 PM Flag
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ugh - I don't know how anyone older than 14 can take her seriously. [ Reply | More
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General Topics 07.15.08, 06:14 PM Flag
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Can you fill us in with a search word? [ Reply | More
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General Topics 07.15.08, 06:17 PM Flag
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it's still on this page "Re; The Housing crisis" [ Reply | More
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General Topics 07.15.08, 06:19 PM Flag
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Ohhh. She's not a banker. She works at a bank as a treasurer. That explains everything. DH is a treasurer, and I know the type. She sees the world as a series of rational decisions and economic trade offs. FWIW, treasury jobs are much safer than banking jobs in economic downturns. Whether the balance sheet is growing or shrinking, you need the same number of people to manage the treasury. [ Reply | More
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General Topics 07.15.08, 06:22 PM Flag
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yes but if lots of places are folding, wouldn't there be fewer of those jobs? [ Reply | More
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General Topics 07.15.08, 06:24 PM Flag
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Which banks have folded? So far, there have been a few desperate acquisitions. But no outright failures. [ Reply | More
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General Topics 07.15.08, 06:26 PM Flag
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everything that I've read suggests we're only at the tip of the iceberg. [ Reply | More
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General Topics 07.15.08, 06:27 PM Flag
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Can you be more specific? I don't believe the government would actually let any bank fail. I am sure there will be more acquisitions and some bail outs. But I can't see any failures in the near future. [ Reply | More
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General Topics 07.15.08, 06:29 PM Flag
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usually a lot of the staff of the acquired bank (or any other entity) gets laid off. [ Reply | More
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General Topics 07.15.08, 06:35 PM Flag
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True. But there is usually a method to who is laid off. They look at individual employee's P&Ls, departmental P&L's, gaps in their own staffing, etc. [ Reply | More
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General Topics 07.15.08, 06:37 PM Flag
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Treasurers - like many other layers of bank staff - are quite expendable. [ Reply | More
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General Topics 07.15.08, 06:41 PM Flag
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Everyone is expendable. I'm not debating that. I just don't think that the current economy is particularly bad for treasurers. In fact, the volatility is probably pretty good. [ Reply | More
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General Topics 07.15.08, 06:46 PM Flag
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wouldn't acquisitions effect how many treasurers are needed? [ Reply | More
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General Topics 07.15.08, 06:28 PM Flag
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I don't think so. It's not a function like reporting where the staff requirements are the same regardless of how much the firm earns. When you combine two balance sheets (and all the off balance sheet assets/liabilities) the workload increases. There may be some opportunity to trim a few positions, but because treasury is not a cost center, this is rarely a priority. [ Reply | More
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General Topics 07.15.08, 06:33 PM Flag
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That is very faulty reasoning, treasurers add nothing and are therefore expendable - particularly to outsourcing. [ Reply | More
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General Topics 07.15.08, 06:34 PM Flag
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Treasurers add nothing? How do you figure? And how do you outsource treasury? Who do you outsource it to? [ Reply | More
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General Topics 07.15.08, 06:36 PM Flag
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lol, I know you are that silly poster so I won't bother to engage in this with you but I wouldn't be so smug my dear - outsourcing and acquisitions will occur and you may find yourself in Des Moines trying to peddle that attitude. [ Reply | More
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General Topics 07.15.08, 06:39 PM Flag
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DH is a treasurer. I work in tax. I just don't see how a treasurer, particularly at a bank, could be outsourced. [ Reply | More
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General Topics 07.15.08, 06:40 PM Flag
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np: no one in America is safe from outsourcing. my DH is a Dr. and parts of his skill set are being sourced overseas. [ Reply | More
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General Topics 07.15.08, 06:42 PM Flag
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So if you outsource the treasury department of a bank, who is going to meet with the FED? Or the OCC? [ Reply | More
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General Topics 07.15.08, 06:45 PM Flag
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Analyst Mom here: The Treasury is a significant income source for many public companies. [ Reply | More
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General Topics 07.15.08, 06:48 PM Flag
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Yes, of course. [ Reply | More
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General Topics 07.15.08, 06:35 PM Flag
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you would think that someone with such a background wouldn't be so blind to real life challenges in the economy. [ Reply | More
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General Topics 07.15.08, 06:19 PM Flag
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We have no idea what her background is there was a lot of tortured logic there. [ Reply | More
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General Topics 07.15.08, 06:36 PM Flag
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She was so entitled! The hubris is frightening. Fortunately that kind of attitude is always corrected the hard way - failure. [ Reply | More
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General Topics 07.15.08, 06:20 PM Flag
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I didn't get that. A bit hardline Libertarian that everything is a choice. But not entitled. [ Reply | More
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General Topics 07.15.08, 06:27 PM Flag
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No v. entitled and quite misguided. She assumes - falsely - that her skills are transferable into any industry. This may be true at entry level but hardly in any senior capacity. [ Reply | More
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General Topics 07.15.08, 06:33 PM Flag
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Didn't she say she is a treasurer? Why won't that transfer to any industry? What am I missing? [ Reply | More
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General Topics 07.15.08, 06:35 PM Flag
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Do you know what a Treasurer does? [ Reply | More
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General Topics 07.15.08, 06:37 PM Flag
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Yes. DH is a treasurer and I worked in treasury for two years before transferring to tax. [ Reply | More
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General Topics 07.15.08, 06:38 PM Flag
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were you the same person that said it wouldn't transfer at a high level? [ Reply | More
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General Topics 07.15.08, 06:39 PM Flag
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^^^just curious b/c I don't know too much about treasury [ Reply | More
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General Topics 07.15.08, 06:40 PM Flag
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No. I never said that. [ Reply | More
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General Topics 07.15.08, 06:41 PM Flag
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Thean of course you understand my point. [ Reply | More
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General Topics 07.15.08, 06:40 PM Flag
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I do not. I worked in treasurer at a cosmetics company. Plenty of my colleagues had previously been treasurers at different companies, including a few at banks. DH started his career in treasury in a government role, and has worked at a retailer and now at a food company. The skills absolutely transfer. Every industry has its own regulations, but people make transfers between industries all the time and learn the regulations. [ Reply | More
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General Topics 07.15.08, 06:43 PM Flag
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