<p>This Bear Stearns, Lehman Brothers and Merrill Lynch fall-out may be bad news for the Harvard, MIT, Yale, and even the Indiana Investment Banking Workshop grads, but I doubt that it will affect all of business school hirings. Wall Street, while significant, is certainly not more than 1/2 of 1% of all new business hires nationwide. </p>
<p>The bigger concern is the general downturn in the economy–and the general credit crunch overall. This is undoubtedly the thing that is likely to drive down hiring of new graduates (in all fields) this school year.</p>