Some Ivy grads forced to work for -- ick! -- commercial banks

Sure, there are those homeowners free-falling into "upside down" mortgages, and those who simply can't afford to pay the monthly bill. And we must, of course, keep an eye on major lending institutions: Which will be the next to collapse?

IvyGate, however, has been tracking another supremely important aspect of the current fiscal crisis: What are young Ivy League grads thinking, those who have clawed their way to Wall Street but now face uncertain fortunes? Says one:

Changing compensation will obviously change the attitude of students toward the industry. They might go to med school or law school instead. This is a sad week. We may be losing the competitive advantage for getting the best talent.

Bright students may choose an M.D. over finance? Sad times, indeed. Other recent graduates on the site -- all commenting anonymously, natch -- fret about diminished prestige. One "George" displays a particular talent for narrative drama:

I was shocked. I was screaming.

One of my friends at Bank of America texted me, "Hey, we might be buying you guys."

I was in denial. You see, Merrill has a much better reputation than a commercial bank like Bank of America. I was shocked I would be joining a lower-tier commercial bank. There's a feeling, "I didn't go through this whole interview process to work at a commercial bank."

Let us not forget any of the victims of the financial meltdown.