Bear Stearns another chapiter

Today's Saturday edition of the 'New York Times' [19 April 2008] ran a story on page 1 about Bear's new hires who haven't a job. Bear's new master JP Morgan Chase has announced that first year analysts can keep a us$10.000 bonus and fresh out of school mba's us$50.000, on condition they won't sue JPM. These new hires are graduates of Ivy and top non Ivy schools; they won't have an easy time finding another spot of employment, nor hope presently to ride the esculator to high salaries. And though one feels sorry for them, more oft than not, they are children of privilege and won't suffer too long. But what the 'New York Times' and other prestige press or the run of the mill journalism doesn't do is look at those without privilege or the bad hand the market is dealing them. High unemployment; outsourced jobs; dead end work; high fees for a college education which will keep children of theirs stuck on the social ladder or transform them into cannon fodder for Herr Bush's failed wars. Don't cry for the rich kids 'New York Times' yet it does for it is bemoaning the fate of their own class and the devil be damned for the rest!