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The Wall Street Journal has started exposing how the New York financial segment is in such disastrous straitsat the moment that some previous stock gurus have moved out to the humble life of working for a living. For example, look at Carlos Araya. He used to be the Wall Street executive you would see ordering pricey dinners at the Palm Restaurant in midtown Manhattan. At this time, he waits tables there. As Wall Street began to hurt, he lost his job as a crude oil seller on the New York Mercantile Exchange in 2007. After bad fortune at seeking a new job in the investment industry, he applied in August 2008 to be a host at the Palm topay your bills. He is earning a little more than 10 % of his original wage.

Some former investment brokers, used to performing exclusive jobs that they are well trained for and earning salaries some people would destroy for, are required to accept low-pay work because they just cannot convert their skill and instruction into a occupation like the one they lost. At present, Mr. Araya is looking at bankruptcy and is confident that he will by no means go back to the investment game.

Alas, there are thousands of stories like this one. Nearly 25,000 jobs have been lost in the economic region in New York alone from the time August 2007. Previous to 2012, that amount is supposed to hike up to 56,800. This number began growing in 2007 during the financial glitch that was a forerunner to our current downturn, in which Araya lost his profession.

John Carbonaro lost his job with Bank of America as a floor clerk in January 2009, and in spite of his skill and magnetism, at present takes care of the marital duties in the family. Joe Morrone, a former Prudential trading clerk, has been jobless for two years and struggles to sustain his daughters and grandson. He has worked in a deli, as a doorman, and a bouncer. He once used to possess three cars for just his personal use. Now he shares one domestic vehicle they strive to pay for.

Araya from time to time sees previous colleagues from Wall Street at the Palm for the duration of his shifts. Some are pleasant meetings, offering encouragement. Other meetings are not so nice. “The way they stare at you, you know they’re thinking unconstructively,” he says. Others come in wondering if they can get a job there also. With 25,000 laid off, it’s certain many of them want a job there.

Araya’s daughter asked him if they possibly afford their house or if they would have to move. He told her he was not sure. She asked him if he knew how much cash the family required. “The manner she looked at me,” Araya says, “I could tell she was counting the money in her piggy bank.” The emotionally unbearable exchange with his daughter caused him to run into the lavatory and weep. “At the end of the week, I get my paycheck and I think, ‘I used to make this much in a day,’” he adds.

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