Despite a forecast earlier this year that City pension funds would break even this year, it now appears that the funds will post large losses for the year. Three quarters of the way through the current fiscal year, city funds have lost almost $5 billion. Taxpayers are the ones who likely be called upon to make the funds whole and meet worker benefit commitments. Of the billions that will have to be repaid, the first......

Today, it's expected that Citigroup will start firing around 10% of its investment banking group, which has 65,000 employees. It's probably that entire trading desks in New York and other cities will be eliminated. Dealbook explains the bank is moving "aggressively to complete the 2,000 layoffs that it announced last March," and these 2,000 layoffs are "on top of about 4,200 announced in January." The Wall Street Journal offered this fact: "Citigroup, which has more......