Word: financees
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First came the crash. Now come the ripples. At business schools around the country, 'tis the season for MBA recruiting. But for Wall Street wannabes who banked on school yielding a six-figure finance job, bitter reality is setting in. Offers from financial firms are slowing, as budgets get slashed...
Here are some other trends affecting MBA grads in the current climate for better or worse: •Opportunistic Recruiting MBA career advisers say smaller firms and boutique investment companies are taking advantage of Wall Street's weakness to try to snatch up the smartest young talent. • Geographic Retrenchment Some...
Northwestern's Hori says the silver lining in the current climate is that many students are stepping back to reflect on whether they really want to follow the Wall Street herd even if recruiters do eventually come knocking. At Stanford, where 37% of business school students who graduated last year...
The one exception, though, is Uncle Sam. Even before the financial crisis forced the government's hand, the U.S. had again become addicted to deficit spending - relying on the kindness of strangers (in this case, mainly Chinese and Japanese central bankers) to finance its spendthrift ways. In September the Congressional...
That exec was Henry Paulson, then the CEO of Goldman Sachs, now U.S. Treasury Secretary. Four years later, the SEC complied, amending the rule; the effect was to allow Wall Street to borrow even more money to finance its businesses. At the most aggressive investment banks, leverage ratios reached 30...