Out of work bankers who were employed at firms like Countrywide, Bear Stearns and Lehman Brothers may be eligible to have taxpayers pay for them to take professional development and CFA courses.
The educational subsidy is available to anyone who was let go from 31 financial firms since May of 2008. They are partly funded by the Department of labour’s discretionary National Emergency Grant program. Typically, these grants are made available for retraining workers at closed down plants or businesses downsizing do to cometition from foreign manufacturers. As far as we can tell, this is the first time it has been used to fund training for out of work Wall Streeters.