Now that's a slogan you can put on a t-shirt! Today Mayor Michael Bloomberg unveiled a plan to retrain Wall Street's newly laid off investment bankers, traders, and other assorted sell-side losers:
Under a program Mayor Michael R. Bloomberg unveiled on Wednesday, 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 the exodus of talent from the rapidly collapsing financial services industry, which has been the city’s economic engine for decades, and speed the industry’s recovery, which may take years, officials said.
You may have noticed the little "m" before the "illion" in "$45 million"... no, that isn't a typo; Mayor Bloomberg is funding this program with roughly the same budget as that of John Thain's office renovation. (Zing!) So New York loves you, unemployed bankers... just not that much.
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