A Forbes blog writes: take your bull elsewhere. Wall Street doesn't feel welcome anymore and will eventually pack up and take its jobs with it, Bove says.
Sentiment for Wall Street hasn’t been the warmest in the aftermath of 2008 but will the hostility and regulation against banks hurt the country in the long run?
That’s what bank analyst Dick Bove argues in a note today. He says the U.S. feels big banks are bad for the country, its economy and its financial system and therefore does not want them. As a result, banks are taking their business (read: jobs) elsewhere and never coming back.
It sounds a bit harsh but it’s certainly true that a number of top Wall Street firms are cutting their staff and in some cases opening up new positions overseas in their place. According to the Bureau of Labor Statistics, U.S. financial-industry jobs dropped to 7.61 million in May. They fell for the fourth straight year to an average of 7.63 million in 2010…..
http://blogs.forbes.com/halahtouryalai/2011/06/30/is-the-u-s-kicking-out-wall-street/
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