BBs hire children of powerful people?

Why not?

More often than not, the upbringing of children borne to powerful and influential leaders in society are privy to the privileged life of frictionless access to the best education opportunities, a conduit to the echelon of society populated by similarly successful and influential people as the parents, and a lifetime guarantee of monetarily-mitigated risk-taking.

As members of the most elite institutions and networks, investment banks, with performance primarily driven by the strength of their relationships, make a highly-prudent investment when selecting the spawn of the captains of industry.

The ability to suppress their intentions, as you show, is another story.

Been going on for ages, whether it's for IBD deal flow or S&T business...

Simply look at the new US ambassador to Japan, Caroline Kennedy. She doesn't even speak japanese. The only reason she's there is because she raised money for Obama. Also, Obama probably wanted his tribe (family) to have a good connection with the Kennedy family.

It's all business. If you want to join the party, the points of entry to the system are Harvard, Yale & Princeton.

I recruited an Analyst at my old firm and there was 2 requirements for the position: - Comes from money / connected - Good grades / good "background"

I left the firm about 2 months after...

This is soooooo shocking

Jeez, I am shocked I am not heavily recruited for politics. Wait, I take that back I just got another email about donating to some random political race.

Not to mention this is prob one of the only reasons I got the job I did.

ON a related note, JP Morgan is getting swarmed with lawsuits from the DOJ and SEC. If Jamie Dimon can weather this I think he takes the title of King of Wall Street