Our lovely President Obama released a statement this week that Wall Street was not going to play as big a part in the economy as formerly. Why? All in the interest of jobs, of course.
"That means that more talent, more resources will be going to other sectors of the economy. I actually think that's healthy. We don't want every single college grad with mathematical aptitude to become a derivatives trader. We want some of them to go into engineering, and we want some of them to be going into computer design."
Don't people already go into those fields? You know where we're headed with this? A nuclear physicist being assigned to a knitwear mill, because 'We need you here!' (That was an actual case in China, by the way.)
This is a stupid idea. He has said things like this before. Assigning jobs, Mr. Obama, does not work. Never has, never will.