They are handing out pink slips at Wall Street

Credit Suisse, HSBC, Barclays PLC, Goldman Sachs, Bank of New York Mellon and Bank of America are all planning major layoffs.

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Germany nixes common euro-zone bonds

German Chancellor Angela Merkel says "she won't let financial markets dictate policy."

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The market will remain bearish

There might be a few sharp rallies, but the bear market will continue, says this report.

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