Quotas For Wall Street?

Rev. Jackson: Wall Street has “a long way to go”

The survey of 48 firms showed people of color now hold nearly a quarter of senior-level positions in the industry and over a third of mid-level jobs.

And Jackson agreed that high-profile role models like Merrill Lynch chief executive Stanley ONeal could be a source of inspiration.

However, Jackson argued that no amount of role models can overcome what he called the structural inequality facing minorities aspiring to Wall Street.

Trying to break down the Wall Street barriers is an ancient and ultimate struggle, Jackson said.

At first glance, 25% of senior and 33% of mid-level positions doesn’t seem too bad. After all, blacks are around 13% of the population. But what this really means is, Jesse has some relatives or cronies that need some high paying jobs, so Wall Street better pony up.

Of course , that means if you see a black face in your investment firm, you’re going to have to wonder if they know what they’re doing or are they one of Jesse’s quota hires?

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