With JPMorgan reportedly considering laying off half of Bear Stearns' 14,000 employees, CNBC had a word with Coldwell Banker broker Ray Schmitz, the guy who was standing outside Bear Stearns' headquarters hawking apartments for any BS employees now looking to downgrade: "'You have to go where the business is,' Schmitz said as he handed out business cards. 'A lot of these people are going to lose their jobs, and most of their wealth will have been in share options. They're soon going to be looking for a cheaper place to live.'" [CNBC; previously]
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