Being out of work doesn’t mean what it used to, I guess. Especially for those who helped cause the job loss.
Just as Michigan is scrambling to retrain laid-off auto workers, New York City officials have come up with a plan to find new work for the unemployed from one of its core industries: financial services.
Under a program unveiled on Wednesday by Mayor Michael R. Bloomberg, the city wants to invest $45 million in government money to retrain investment bankers, traders and others who have lost jobs on Wall Street, as well as provide seed capital and office space for new businesses those laid-off bankers might create.
The plan is intended to stem a potential exodus of banking professionals from the city during the restructuring of the financial services industry, which has been the city’s economic engine for decades, and to speed the industry’s recovery, which will take at least several years, officials said.
[…]
All told, city officials plan to spend about $15 million on the program, in addition to the $30 million of federal money. They estimate that over 10 years, it could stimulate the creation of at least 25,000 jobs and contribute $750 million to the local economy, but Mr. Bloomberg referred to those projections as a “guess.”
All right people. Listen up!
This is a shovel…..
So that 45million will train what… 3 of them? Can’t limit their salaries or the best and brightest will leave.
#2 ROFL Excellent post.
So what are they going to train them to do?
Who knew it was so easy to create jobs?
RTFA – of course – then return to whining. It’s 10-year program aimed at one-third of the salaried workers in the city.
But, then, why let facts get in the way of politics?
Ha! Ha! Thanks for the laugh this morning. I’d give that guy 2 bucks just for his creativity.
So I would assume these highly educated bankers can only do work which does not require any sweat, lets them wear their fancy suits and ties every day, and is not the least bit “degrading” to them. No, they couldn’t be trained to repair sidewalks, roof buildings, install over the air TV antennas in ghettos, could they? No way. They are being trained with our money to continue to be sons of bitches.
I never understood why people should assume they should be able to live in NYC. It is preposterously expensive and as such requires much higher salaries to attract labor. That means in a down cycle, you lose labor at a much faster rate. I really wonder how corporations justify setting up shop in NYC. The cost of space, labor and taxes would seem to make it a bad investment.
First class: Ethics 101.
So let me get this straight. In the midwest we are re-training out of work laborers to become white collar service providers. In NY they are re-training out of work white collar people to do what exactly? Dig ditches? Maybe just learn new ways to screw people.
You’ve got to be kidding! These mother fuckers should be LAST IN LINE AT THE SOUP KITCHEN!!!
Kinda like taking freeway snipers to the shooting range.
Why are people so angry with them for trying to make some money? So they bought up some loans. If they hadn’t the original banks would be the ones in trouble.
Send them all to india to be phone tech support.