Word: financees
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Unsurprisingly, the news of so many failures has prompted some Harvard professors to begin hoping that undergraduates, who have been flocking to finance for as long as anyone can remember (that is, for four years), will take a broader view of their career choices. Indeed, the angst that accompanies ?...
Some Harvard students watching the speech—at least those sitting around me—sneered that Rogoff didn’t realize that for Harvard students accustomed to jobs at the upper echelon of finance, the usual recruiting suspects remain alive, if not quite well. Indeed, of the...
But the smug dismissal of Rogoff’s point and our confidence in our own brilliance shouldn’t obscure the facts. Some middle-of-the-road analyses by the free-market crowd at the University of Chicago find that about 15 percent of jobs on Wall Street...
2) It's also (except in, say, Detroit and Cleveland) not the result of external economic factors like Texas in the 1980s or Southern California in the 1990s. It's a crash caused by the twisted dynamics of real estate finance in recent years.
When Bear Stearns collapsed in March, The New York Times described the storied Wall Street investment bank as “a throwback to a bygone era,” a place with a “cigar-chomping, suspender-wearing culture where taking risks was rewarded.?...