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This Bear Stearns, Lehman Brothers and Merrill Lynch fall-out may be bad news for the Harvard, MIT, Yale, and even the Indiana Investment Banking Workshop grads, but I doubt that it will affect all of business school hirings. Wall Street, while significant, is certainly not more than 1/2 of 1% of all new business hires nationwide.
The bigger concern is the general downturn in the economy--and the general credit crunch overall. This is undoubtedly the thing that is likely to drive down hiring of new graduates (in all fields) this school year.
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