Ivy League = Screeners for Wall Street?

Parent Cafe
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<p><a href=“http://www.nytimes.com/2008/06/23/education/23careers.html?ex=1371960000[/url]”>http://www.nytimes.com/2008/06/23/education/23careers.html?ex=1371960000&lt;/a&gt;&lt;/p&gt;

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<p>And a fine job they have done. Completely screwing up the US economy. Now that takes a special kind of brainpower.</p>

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<p>This article was previously thoroughly discussed here:</p>

<p><a href=“http://talk.collegeconfidential.com/parents-forum/527281-ivy-league-schools-simply-becoming-selecting-mechanisms-wall-street.html[/url]”>http://talk.collegeconfidential.com/parents-forum/527281-ivy-league-schools-simply-becoming-selecting-mechanisms-wall-street.html&lt;/a&gt;&lt;/p&gt;

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<p>There are never too many times to bash these idiots who have cost everyone billion and billions of dollars. And it was hardly the first time.</p>

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<p>barron is conjecturing without basis. Ivy grads are now responsible for the US and possibly worldwide recession now ?</p>

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<p>Most Ibanks are heavily dominated by Ivy and other Top 20 school grads. Now the failures and near failures of same Ibanks have thrown the economy under the bus by funding the mortgage crisis. Therefore, yes, the Ivy and other top school grads ARE responsible. Back not even 10 years ago we had a similar event with the same Ibankers touting the Dotcom revolution until it went totally bust putting us into a major recession. So yes, they are responsible.</p>

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<p>So government largess, lack of financial oversight takes a backseat to youngish, 20 somethin Ivy grads who were free to destroy our financial institutions while getting a pat from their corporate mentors, is that it ?</p>

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<p>Most spoken words in Bush press conference 07/15/2008</p>

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<p>“I don’t understand.” We gave the Government what it wanted, expanded Home Ownership, expanding economy, full employment, good standard of living. We also gave what the consumers wanted, easy access to capital.</p>

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<p>"I don’t understand. " Where was the Government that’s supposed to protect us? How come there was fraud in the lending industry and no body is in jail?</p>

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<p>“I don’t understand.” You guys [lenders] are supposed to police yourselves. And the Public should have read the fine print.</p>

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<p>“I don’t understand.” We did our job in educating these people. How can we be responsible for their lack of common sense?</p>

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<p>“I don’t understand” the older generation. How can they be so dumb.</p>

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<p>“I don’t understand”. I played the game.</p>

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<p>“I don’t understand.” What I don’t understand.</p>

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<p>LongPrime, ever consider putting your thoughts into a single post ?</p>

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<p>Not the same. Did I leave you out? :)</p>

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<p>Everyone of those “20 somethings” has several levels of bosses who are really in charge and call the game. That’s why you have seen several of the big Ibanks lose their CEO in the last year. No IB 20 something goes to take a crap without permission from his/her MD.
The Ibanks have LONG fought much regulation and oversight and fund both parties well. The theory was always these are the big boys and the smartest guys in the room–they can take care of themselves. Well, now we all should know they can’t really spell C A T without spotting them C A when it comes to fundamental economics. The first thing I remember learning in B school is “trees don’t grow to the sky”. There is no constant 20% market growth over the long term because pretty soon you have to be selling ice cubes to Eskimos. They have all they need.</p>