Banker on Students Vying for Internships: “They’re Done”
Remember how students were gearing up for i-banking internship interviews this time last year? Well, an Ivy grad banker working at a bulge bracket firm thinks they may as well start studying for the LSATs. Below, an exclusive interview with this still-employed financial services professional:
IvyGate: What's going to happen to students applying for internships this year?
Banker: They're done. They need to say goodbye to their Wall Street dreams. It's not going to happen.
IvyGate: What do you think they should do instead?
Banker: I don't know. They've gotta figure that out.
After the jump, this anonymous banker tells us what he thinks of Obama's dream team and why the recession is about to get worse.
IvyGate: What do you think of Obama's economic team?
Banker: I don't know much about it. But apparently he's picked really super-competent people.
IvyGate: Your thoughts on the broader economy?
Banker: Many effects of the economic recession have not been felt yet. After Christmas, there will be a new wave bankruptcies as a result of the drop in consumer spending and corresponding loan and mortgage defaults.
There you have it: The recession is about to get worse and you will not land a job. Enjoy your morning.
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Read more: i-banking, Market Meltdown, Wall Street dreams
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December 11th, 2008 at 1:18 pm
This is not news at all. What’s the purpose of this post?
December 11th, 2008 at 1:34 pm
I hope Mr. MeBanker spelled “morgage” wrong on his own.
December 11th, 2008 at 2:58 pm
There will always be a market for avaricious Ivy Leaguers who treat their degrees as little more than stepping stones to soulless pursuits of meaningless wealth. The Ivy League was founded upon the premise of letting a good education go to waste. I don’t think I’m the only traditionalist, here!
December 11th, 2008 at 3:43 pm
Wow! An interview with a REAL LIVE BANKER? I thought they didn’t exist any more. What a glorious day now that we have a 24 year-old’s thoughts on the future of the economy.
Pffffft.
December 11th, 2008 at 4:15 pm
Actually, 804000, mortgage is spelled with a T. Which Ivy are you from, pray tell?
December 11th, 2008 at 5:47 pm
Penn 11: At the time of 804000’s comment, it was spelled “morgage” in the article. His comment, then, was referencing the initial error and was not his own. Hence the sarcasm and quotation marks.
Now you look like a douche.
December 11th, 2008 at 6:34 pm
Everyone point and laugh at Penn 11! Make him feel bad for a committing an inconsequential mistake! That’s what internet forums are for, right?
December 11th, 2008 at 9:36 pm
This is the most useless post charading as news I’ve seen in a while.
If the audience of this block is Ivy League students and alumni, then we all obviously know investment bankers. Why is the anonymous opinion of some random douche newsworthy?
This is pathetic.
December 14th, 2008 at 6:17 pm
Does any one know what this year’s bonus will be in the banks?
December 15th, 2008 at 10:16 pm
Actually, I think this post shows a way forward for IvyGate. A blog that has always ridiculed its readers (Ivy students & grads) may now be showing its disdain for them by deliberately producing crappy, unsourced posts that read as if they were penned by an unimaginative Stephen Glass. I don’t see any explanation for this story other than a total indifference to the blog’s readership. The clear winner here is Bill Kristol, whose tenure at the Times seems to have provided the animating genius for the posts of these newer writers.