http://www.businessdust.com About business and anything else that seems relevant Wed, 20 Jan 2010 07:40:45 +0000 http://wordpress.org/?v=2.9 en hourly 1 http://www.businessdust.com/2009/03/20/the-apparent-fiction-of-investment-banking/ http://www.businessdust.com/2009/03/20/the-apparent-fiction-of-investment-banking/#comments Fri, 20 Mar 2009 14:24:08 +0000 JN http://www.businessdust.com/?p=11 Irrespective of one’s view of the actual effect of the current financial crisis on the wider economy, it’s rare to watch the news now without hearing about various companies and organisations slashing 500 or 1000 jobs. There is little doubt that organisations in almost all industries and businesses are now shedding staff in response to the continued economic downturn and its anticipated continuation. Some industries and businesses more than others inevitably, but those totally immune are few and far between. One theoretical positive to come out of failing investment banks and fund managers though is that the better minds graduating from colleges and universities around the world might now be more likely to migrate into the fields of science, technology and engineering – following the money which the Obama administration has pledged and moving away from the sectors that will be unable to fund the salaries and bonuses seen in recent years. Maybe it’s not a bad thing that this seems likely to be a move away from the apparent fiction of investment banking and into areas that will arguably progress and benefit society as a whole to a greater extent. One hates to think of how much further ahead we would be in the fight against diseases like cancer in a more rational world.

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