President Obama Calls For Ending Wall Street Brain Drainin Major Economic Speech Yesterday
Obama Supports Growing Nat’l Movement to Burst Bubble of Financial
’ s “Stop the Brain Drain”
Petition
WASHINGTON, D.C.
–
During yesterday’s economic speech in Kansas, President Obama
e
ncouraged the nation’s best and brightest to consider careers outside Wall Street –
students from Stanford University.
"If we don’t have an economy built on bubbles and financial speculation, our best and brightestwon’t all gravitate towards careers in banking and finance," President Obama said.
"Because if
we want an economy that’s built to last, we need more of those young people in science and
engineering. This country should not be known for bad debt and phony profits. We should beknown for creating and selling products all around the world that are stamped with three proudwords: Made in America."The full speech transcript is available here.
OURTIME.org
,a national organization standing up for Americans under 30, launched the “Stop
the Brain Drain” petition in October to demand the end of a practice that is weakening America’s
economy and implore universities to
support America’s top talent in creating new businesses,
developing innovative technology and improving government.
“Entrepreneurship is on the decline, and America is an unemployment crisis.”
says MatthewSegal, co-founder and President of OURTIME.org.
“If more scientists, engineers, technologists
and mathematicians become entrepreneurs, they will not only create more jobs for America,increase our standard of living, and keep us competitive in a global economy, but they will alsoaccrue more wealth long-term. I have friends and colleagues who work on Wall Street and
believe that a strong financial services sector is essential for a successful economy. But at thesame time we have to ask: How can we foster and encourage more startups from our best and
brightest?”
The petition, which demands universities immediately cease the practice of allowing Wall Streetrecruiters preferred access to students in exchange for financial contributions, has grabbed theattention of the mainstream media over the past month, including stories in theHuffington Post,
theLA Timesand theChicago Tribune.
Among the 1,300 Americans who have signed the petition is New York Times columnist, PaulKrugman.
Additionally, since the campaign’s launch there have been supportive Twitter
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President Obama Calls for Ending Wall Street Brain Drain in Major Economic Speech Yesterday
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