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You might imagine that Wall Streeters who have fallen on hard times since the credit crunch would find jobs in similar fields, or hold out for another gig in finance. What could compete with the heady rush—and heady renumeration—of managing millions? Well, how about making cupcakes at kids' birthday parties, which is what Harvard grad and ex-Bear Stearns VP Jessica Walter has been doing since losing her job. Or running a neighborhood hair salon, the new career of erstwhile securities investor Jeff Salmon, or teaching university statistics like ex-structured finance exec Gary Witt.

As Bloomberg News reports, in light of the bloodbath that is the current banking job market, the newly unemployed are having to forge unexpected career paths. Unless, like some ex-traders, they're turning to gambling and poker, which must be pretty much like their old job, just with marginally more cigar smoke and illegality.

Wall Street's Jobless Try Cupcakes, Cheap Haircuts, Maybe Omaha [Bloomberg]