''California (BCAX) has paid Lina Manglicmot $1.5 million since 2005, an average of $253,530 a year, to work as a prison nurse in the agricultural town of Soledad.''
http://www.bloomberg.com/news/2011-12-16/million-…
Is it me or Finance is finished?
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Yeah, I am sure working overtime, as a prison nurse, is everyone's dream job. Also, you can make a lot more than that in finance as your progress in your career.
No, finance is not dead, just people will go into other careers.
I'm sure you know this, but you are mixing apples and oranges. True, finance is undergoing a contraction that I believe will only get worse. The financial system as it exists will not survive and thus a lot a jobs and institutions will be destroyed once the Great Restructuring reverses the "financialization" of the world economy over the past few decades. Nurses in California are overpaid because of a leftist view of the employee-employer relationship and widespread unionization. But they forget that their income should be indexed to the consumer's (i.e. patient's) ability to pay and/or the taxpayer's (God forbid) capacity to subsidize. Obviously, those limits have been exceeded by a considerable margin. Both industries will experience considerable wage contraction, in my view.
I live in CA and what caught my attention here is not just the nurse, but the fact that it was in the prison system. Most people don't realize that the prison guards union is one of the most powerful entities in all of CA. They have incredible lobbying power and get ridiculous concessions. One day everyone in CA will wake up to the fact that the prison guards union is basically strangling our economy.
dead as a door nail my friend
yeah, where I am from, construction workers make more than M.D.'s
you can drop out of school and go work there as a construction worker :)
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