On the other hand Spain has still to come clean about the extent of its banking losses and once the aid process begins we will find that these losses are much larger than the Euro 19 billion requested by Bankia.
The company said it was in talks with Servisair throughout the process before the job losses were announced and that it was currently considering a range of options.
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In more normal times, the slow-growth companies might go bust - and produce a lot of job losses in the process.
Meanwhile, investors around the world are deleveraging to reduce risk and cut their losses, a process that the Fed can do little about.
Seeing the writing on the wall, Mr Muntefering had tried to blame foreign private equity investors for Germany's economic ills, labelling them "locusts" who were asset stripping companies, sparking large job losses in the process.
However, many of these investors would have had the temptation to write off a capital loss in their share portfolios against the capital gain on their buy-to-let properties potentially eliminating their stockmarket losses in the process.
That would help compensate for those efficiency losses during the generation process.
It also will magnify the mortgage delinquencies and defaults, and severely depress the value of existing mortgages and derivatives backed by them In recent quarters, banks have booked profits as they reduced their reserves against potential loan losses, but that process will be dramatically reversed.
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Defaults, foreclosures, loan buy backs and billions of dollars of bad loan losses changed the mortgage underwriting process forever.
"There is a lack of clarity on what full redress looks like, with banks determining what constitutes consequential losses and how an appeals process will work, " he said.
By helping with capacity building around the procurement process, pharmas could cut down on annual losses from counterfeit sales and increase transparency and accountability in an oft-criticized industry.
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So if we do our job well, there shouldn't be any significant losses as a result of the resolution process.
Recently, the world's steel mills have been running at close to full capacity but getting there was a painful process, including bankruptcies, closures and huge job losses.
But the convergence process in areas like leasing, insurance and losses on financial instruments dragged on longer than expected.
"Our main priority now is to keep employees informed throughout the process, to do what we can to keep job losses down and to support those affected in finding alternative employment should that prove necessary, " it said at the time.
Mr Orcel is in the process of overhauling the investment business, with 2, 000 job losses expected.
Peugeot is in the process of cutting 8, 000 jobs and closing a factory to stem losses.
Profits and losses are the economic signals that direct the use of scarce capital, a process that is distorted when government picks the winners and losers.
Yet in its zeal to protect taxpayers, Congress has made the resolution process so similar to bankruptcy that counterparties and lenders may still choose to abandon a troubled firm to avoid losses.
Bank of America, which was in the process of acquiring Merrill at the time, nearly backed out of the merger several months later because of staggering losses at Merrill.
Perceived abuses in this process caused Congress in 1995 to pass a law that granted advantages to large institutions like pension funds that suffered big losses over individuals when it came to being appointed lead plaintiff.
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