There's a Slate story circulating around Wharton and some other schools which says Harvard Business School is bad for Wall Street. Specifically, any industry that HBS gravitates towards, soon fails. I think it's funny, but ultimately not a cause-effect relationship. I have several friends at HBS and believe that they are a great bunch of guys over there in beantown. I'm sure it's more of a herd effect with people chasing the jobs and money. When Wall Street is hiring and paying big bucks, of course people are going to try to get jobs there.

Here is a quote from the article:

Consultant Ray Soifer (Harvard MBA, 1965) has been tallying the career paths of fellow HBS alumni for several years, and what he has discovered confirms what every Yalie has always suspected: Harvard is bad for America. Soifer has found that the initial career choices of HBS grads amount to a "rather esoteric but nonetheless generally accurate long-term indicator of the US equity market," he notes in his most recent report. Make that a contra-indicator. The more Harvard grads on Wall Street, the worse the market does.