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by Derek Loosvelt | August 27, 2008


It’s been well publicized that the top investment banks on Wall Street have brought down the axe on thousands of junior-level bankers in the past year, but not much has been reported in the mainstream media about what these out-of-work young professionals have been doing since walking away from their cubicles with very healthy severance packages in a very unhealthy job market. What have all those kids been up to?

Well, according to a New York Observer piece published yesterday detailing the post-banking lives of several twenty- and thirty-something guys and gals, they’ve been doing everything from blowing their dough in Vegas, building polo clubs in Florida and climbing to Machu Picchu in Peru, to indulging in not-so-legal substances, carving through powder on their snowboards and spinning B-sides at fancy museum parties in Brooklyn. A few crazy kids have even attempted to search for another job.

Of course, the Observer didn't interview every one of many thousand bankers who've lost their jobs since summer 2007, so if you're one of those who've been recently laid off, let us know what you've been doing with your severance package (and/or unemployment checks) by commenting below.



Filed Under: Finance

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