Meredith Whitney Suggests Out Of Work Financial Services Employees Stop Thinking 'How Many People Will Be Working Under Me?' And Start Thinking 'Do You Want That Collated And Bound, Sir?'

“The problem to date has been that those that have been laid off have been sitting on their couches because they do not want to take a downgrade in pay. They are not going back to work and the longer you are out of work, the more difficult it is to get a new job. My advice to them is take what you can get. It is very hard to transfer skills from a high-paying job…so recalibrate your expectations." [BloombergTV]