Let Them Eat Louis Vuitton

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Bears
Photo: Nytimes

Think of the children! By which we mean all of the poor business students who were expecting to have internships at Bear Stearns this summer but since the firm's collapse in March have been left out in the cold, gnawing on the handles of their Louis Vuitton bags in lieu of sustenance. It's soooooo sad.

Just kidding! We could give a flying crap about the angst of Cheyenne Sparrow, a junior at the Wharton School at the University of Pennsylvania, who was slated to work at Bear this summer but according to the Times today became "skeptical" after the sale, "even though her contact at Bear assured her that everything would be fine."

“My parents work in business, and they’ve sold companies, so I know the first thing you do is tell all the employees, ‘Everything will be fine,” Ms. Sparrow said. “It’s a stall tactic."

Yeah. The only person we feel bad for there is Cheyenne's Bear recruiter, who would probably like to strangle her at the moment. Nor do we feel particularly sorry for kids whom JPMorgan paid $50,000 to be un-hired from their internships, or kids like Penn senior Yashoda Khandkar, who are dejected because they "can’t get as good of jobs as we would have had.” Neither, apparently, does the Times!
Ivy Leaguers like Ms. Khandkar have more options than most, of course. And for now few of them have mortgages, unlike millions of Americans who are struggling just to pay the bills.

Yeah. How's about you have a good long think about that while you're working long hours at the Dairy Mart this summer, you entitled little whippersnappers.

Bear Stearns’s New Hires Become Job Seekers [NYT]