Wall Street Bandits to be Rehabilitated

[don]

February 19, 2009
New York to Spend $45 Million to Retrain Laid-Off Wall Streeters

By PATRICK McGEEHAN
Just as Michigan is scrambling to retrain laid-off auto workers, New York City officials have come up with a plan to find new work for the unemployed of its core industry: investment banking.

Under a program Mayor Michael R. Bloomberg unveiled on Wednesday, the city wants to invest $45 million in government money to retrain investment bankers, traders and others who have lost jobs on Wall Street, as well as provide seed capital and office space for new businesses those laid-off bankers might create.

The plan is intended to stem the exodus of talent from the rapidly collapsing financial services industry, which has been the city’s economic engine for decades, and speed the industry’s recovery, which may take years, officials said.

Proposed retraining exercise
(Dated but it just might work)

[GRG55]

Re: Wall Street Bandits to be Rehabilitated

February 19, 2009
New York to Spend $45 Million to Retrain Laid-Off Wall Streeters

By PATRICK McGEEHAN
Just as Michigan is scrambling to retrain laid-off auto workers, New York City officials have come up with a plan to find new work for the unemployed of its core industry: investment banking.

Under a program Mayor Michael R. Bloomberg unveiled on Wednesday, the city wants to invest $45 million in government money to retrain investment bankers, traders and others who have lost jobs on Wall Street, as well as provide seed capital and office space for new businesses those laid-off bankers might create.

The plan is intended to stem the exodus of talent from the rapidly collapsing financial services industry, which has been the city’s economic engine for decades, and speed the industry’s recovery, which may take years, officials said.

Proposed retraining exercise
(Dated but it just might work)

It continues to amaze me that this alleged bastion of free enterprise continues to attract more and more taxpayer subsidy money. In the USA of all places, and now from Bloomberg of all people. You would think none of these people ever made much more than minimum wage, nor made any provision for a "rainy day" in their personal finances.

So once again it begs the question: If they are so bad at managing their own personal and corporate finances, why the hell would you want them to be managing any of yours? Ever?

[gwynedd1]

Re: Wall Street Bandits to be Rehabilitated

Er ...Uh do we need to retain this kind of "talent"?

Like they should be a vascular surgeon now?

[we_are_toast]

Re: Wall Street Bandits to be Rehabilitated

Sorry, but is the picture before or after the training?

Proposed retraining exercise
(Dated but it just might work)

[don]

Re: Wall Street Bandits to be Rehabilitated

The idea is to build on existing skills...to maximum government efficiency :cool:

[Supercilious]

Re: Wall Street Bandits to be Rehabilitated

Please do not open this clip if you are offended by coarse language or you are offended by the art of African-American rap subculture !!!



Gangsters come in all colors and shapes. The financial gangsters may look quite harmless:



When the crisis jumps up WTF you gonna do? Damn it feels good to be a bangsta!

[Supercilious]

Re: Wall Street Bandits to be Rehabilitated

Duplicate. Please disregard

[cjppjc]

Re: Wall Street Bandits to be Rehabilitated

I don't know about retraing investment bankers. But how about all those people who did the back office work. All the people in Human Resourses. Not only did they lose their jobs. I'm sure they had lot of company stock. Can you imagine the phone calls they made to their children, regarding new choices for college.