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Thursday, March 11, 2010

When Finance leads job creation...

It is not clear if this is a positive or a bearish signal...

Job Market Stabilizes for Business Students - NYTimes.com: "With banks climbing out of the recession, more business students across the country are finding banking jobs and internships, enrolling in finance clubs and going on class trips to Wall Street, universities say.

Unemployment is plaguing millions of families, and the public may still be seething about bank bailouts and eight-figure bonuses. But business students and career advisers see a job market that is quickly stabilizing.

Aspiring bankers know their career choice comes at an awkward time. Ben Phelps, an M.B.A. student at Duke who is going to work for Bank of America Merrill Lynch after graduation, was shouted at by a stranger on Wall Street during a summer internship. He and his classmates joke that they would sooner describe themselves as “bank tellers” than “investment bankers.”

“A lot of people lost their savings, and I can understand those people being angry,” Mr. Phelps said. “But I wish sometimes that their anger wasn’t directed just at bankers.”"

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