Remember when we wondered if stricter regulations and restrictions on executive compensation would spark an exodus of talented bankers from top Wall Street firms? Turns out it’s happening, and it’s probably not a bad thing. [%comments]
Wall Street’s Brain Drain
TAGS: Wall Street
and 
. You can also watch it on 
Perhaps some of these ‘talented bankers’ (otherwise known as overpaid sales people) can move into industries that actually manufactures a products or provides a valuable service to the people. What exactly does Wall Street create other than fees and expenses? I like to see this type of brain drain, it’s the free market at work.
The bigger question is, where are they going?
Personally I think some would make very good drug dealers. Or prostitution upper management, also known as “pimping” for those in the know…. Anything that does not require a moral compass.
My heart goes out to those who may have to sell one of their several mansions due to the stricter regulations.
The original talk of the brain drain was people leaving the finance industry for the sciences and areas where there was a potential for greater tangible benefits to humanity.
This is just about people leaving major Wall Street banks for smaller institutions or private equity. Still in finance.
I’m with you that this is probably OK, but it’s not really the free market at work if it’s caused by government restrictions.
On the surface it’s hard to see how this is a bad thing.
Heard this too, though I’m confused. Where are they brain-draining to? If we assume over-regulation is driving them out, what under-regulated, cash flush organization are the running off to?
On another note, who can pay them anything equal to what they make on Wall St.?
“Talented bankers” my arse. As far as I can tell, up until a few months ago executive compensation packages were mostly good for attracting naught but greedy sociopaths.
Boohoo. Cry me a river. Maybe it will trickle down to us.