Shell-Shocked Bear Stearns Employees Turn To Psychologists

Shell-Shocked Bear Stearns Employees Turn To Psychologists

ABC News   |  Russell Goldman   |   March 19, 2008 07:46 AM


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Facing the loss of their life savings and very possibly their jobs, employees at investment bank Bear Stearns are turning to trained professionals -- not for financial advice but for psychological counseling.

The company, which collapsed suddenly last week when real estate clients withdrew $17 billion in two days, will provide psychological counselors, called employee assistance professionals, to help workers handle the news that their plans and perhaps their dreams have abruptly and dramatically changed.

"Employee assistance professionals are behavioral experts in the workplace. Anything that effects human behavior or emotions at work are the areas where we focus. We're not looking at the financial realities of a situation, but the emotional impact of that situation," said John Maynard, CEO of the Employee Assistance Professionals Association, the largest such organization in the country with 4,000 members.

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- Harrier I'm a Fan of Harrier 11 fans permalink

The Fed have helped ease the fear with respect to the run and over a few weeks or months that major problem should go away. The major issue here is also related to the government caving into big business. You see the retirement plans and pensions are gone. Those were mandated by law and always amounted t more money, but now you foot the bill and the instruments are more volatile-you are dependant further on the government in correctly doing their jobs and looking after your interests. Once your money is out there, everyone wants it and it is subject to gaming the system

Government will help give welfare to the finance industry, but screw over the workers who built it. Everyone know what it would take to fix the problems

    Favorite    Flag as abusive Posted 10:28 AM on 03/19/2008

Now, now, let mommy kiss your boo boo and make it all better.

    Favorite    Flag as abusive Posted 10:25 AM on 03/19/2008
- aigeanta I'm a Fan of aigeanta 5 fans permalink
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These psychologists are probably evaluating which employees might go postal so they can keep a security camera trained on them at all times.

    Favorite    Flag as abusive Posted 10:14 AM on 03/19/2008
- almoguy I'm a Fan of almoguy 7 fans permalink

I hope they are asking their shrink: " Where was my moral and ethical compass when I was contributing to the big rip off."

    Favorite    Flag as abusive Posted 10:00 AM on 03/19/2008
- dadw5boys I'm a Fan of dadw5boys 282 fans permalink
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You mean the Employees did not get $ million dollar stock options like the EXECUTIVES did in December?

    Favorite    Flag as abusive Posted 08:27 AM on 03/19/2008
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