Syracuse, NY - Syracuse University graduates were reminded during their commencement Sunday of the grim economic world they’re about to enter. Their keynote speaker was a banker who offered insight on the economic collapse of the past few years, and their own chancellor reminded them of how bad things are. “Our nation has suffered from a different kind of...
A Syracuse University student prepares for a tough job market during the school's 156th commencement ceremonies Sunday at the Carrier Dome.
Syracuse, NY - Syracuse University graduates were reminded during their commencement Sunday of the grim economic world they’re about to enter.
Their keynote speaker was a banker who offered insight on the economic collapse of the past few years, and their own chancellor reminded them of how bad things are.
“Our nation has suffered from a different kind of devastation, one that starts with excessive risk-taking on Wall Street and moves quickly through the land, sending shocks all along Main Street, toppling homes and jobs in its wake,” Chancellor Nancy Cantor told about 17,000 students, parents, friends and faculty in the Carrier Dome.
“As we experienced in the Crash of 1929 and the Great Depression, today’s Great Recession hurts everyone.”
Jamie Dimon, chief executive officer of JPMorgan Chase Bank, delivers the keynote speech at the Syracuse University commencement.
Keynote speaker and banker Jamie Dimon, whom some students objected to because of his involvement in the industry, conceded that it’s not easy for new graduates today.
“The world is complex and challenging, and yes, the economy is getting better, but you are still entering a job market at a tough time,” said Dimon, chief executive officer of JPMorgan Chase bank. “But in fact, throughout your lives, you’re going to have to face tough times and failure, both personally and professionally. I’m sure some of you already have. But how you deal with failure may be the most important thing in whether you succeed.”
Some students had protested Dimon’s selection as speaker, saying he represented an industry that had caused the economic collapse. Students a month ago held a rally on the steps of Hendricks Chapel to protest Cantor’s selection of Dimon, an event that drew coverage from CNN and MSNBC.
Protest organizers urged students to take off their robes and caps while Dimon spoke. Only a handful did.
In his 15-minute speech, Dimon urged students to look beyond the short term economy and into the future.
“In the long run, you—the next generation—must continue to conquer the challenges we face,” Dimon said. “We must confront our health and education systems. We must develop a real, substantive energy and environmental policy. We must build the infrastructure of the future. We must continue to welcome the best and the brightest from around the world to our nation. These are all serious issues but if we work together, we can fix them.”
One of the organizers of the Dimon protests, Adrienne Garcia, said she was disappointed with Dimon’s speech.
“We felt he used it as a platform to try to repair the image of the financial and banking industry,” said Garcia, who graduated Sunday with dual bachelor’s degrees in English and political science. “I felt it was a PR speech rather than an inspirational speech.”
Students of the Whitman School of Management gave Dimon a standing ovation.
Cantor called upon students to enter a difficult world with compassion.
“Many of you will leave here today and struggle in this unstable economy to find a job, but all of you will leave here with new eyes for the world,” she said. “All of you will have taken off the blinders, seeing that those who suffer most in emergencies are also the ones who are most hurt day in and day out.”
Contact Glenn Coin at gcoin@syracuse.com or 470-3251.
Brian Ludwig of East Stroudsburg, Pa., fell asleep in the Carrier Dome before the start of Syracuse University's 156th commencement ceremonies.