He happens to live in New Jersey, where state education authorities have long worried about a dearth of math teachers.
Last week he heard about a new program called “Traders to Teachers” being set up at Montclair State University to retrain people in the finance industry who have been laid off in the deepest crisis to hit Wall Street since the Great Depression. […]
The university’s 101-year-old College of Education received 146 applications for 25 spots in the first round of the program, which offers three months intensive training followed by a job at a high school in January. The first year on the job includes close mentoring, and after two years probation they can become fully certified math teachers. […]
“If we’re successful … we could change in a very significant way the quality of math instruction in the state of New Jersey,” said university President Susan Cole, noting that many schools rely on substitute teachers because there are not enough certified math teachers to fill the positions.
See also: Dean Baker: Wall Street Follows the Path of the Steel Industry in Pittsburgh (“By eliminating the Wall Street path, other relatively high-paying jobs will look much better”)