Wednesday's Headlines: Top Universities Call for Students to Reconsider Wall Street
The anti-Wall Street protests have spilled onto some of the nation's top colleges where students are challenging their schools' on-campus recruiting programs, according to The New York Times.
Op-eds in school newspapers at Harvard, Dartmouth, Stanford and Yale criticize big banks' access to these schools' top students and call for academia to encourage leading students to pursue less lucrative but more creative endeavors.
"There's something sad about so many of us entering a line of work in which we're not (for the most part) producing something, or helping someone, or engaging in something that we're explicitly passionate about," wrote one student in The Yale Daily News.
Students at Harvard and Brown University have started holding meetings with groups affiliated with "Occupy Wall Street," The Times said.
Interviews with more than two dozen executives and investors show little hope for Wall Street to exit its current woes. [Bloomberg]
Massachusetts regulators are looking into Wall Street's biggest banks' hedge fund recruiting services. [DealBook]
A slideshow of RIA executive salaries. [Investment News]
Indonesia is the next frontier in Asia for private equity. [WSJ]
Top earners at some of the world's biggest banks take home as much as 96 percent of their pay in the form of an annual bonus. [Financial Times]
China Investment Corp., the nation's sovereign-wealth fund, will contribute $1 billion to a Russian private-equity vehicle. [Bloomberg]
Allstate's independent contractors get close to forming union. [Investment News]
Two Swiss bankers were charged by federal prosecutors with allegedly helping wealthy U.S. clients hide their money from the IRS. [WSJ]