Bloomberg has a story which is supposed to tear at our heart strings but I have a different reaction. In profiling out of work derivatives technology workers, Fired Doctor of Derivatives Waits to Cry as Finance Jobs Vanish Bloomberg tries to show the pain of the greater than 250,000 jobs lost.
Firstly, it is precisely these derivatives, mathematical models which are part of the problem, so these people losing their jobs does at least imply banks are no longer just cranking out black box mathematical models (ahem) to generate more products and massive fees.
Also buried within this story is the L-1 Guest worker visa.
