You can see this from day one, really. Freshman year in college, while the engineering, arts, and science majors were running around soccer fields doing team-building activities... the commerce majors were getting drunk aboard a lavish yacht on loan from an alum. Go figure, I suppose this starts pretty early.
A close friend of mine was a commerce major... he transferred out after a year to pursue math - he couldn't take the ridiculous egos (and he's a cocky bastard to boot) and the "eye on the money, fuck the plebes, we're better" mentality that his peers seemed to have.
I was pursued by Morgan Stanley and Barclay's for a while for a college internship - I decided to go elsewhere, but even for technical roles, and even before I was offered a job, they were boozing us up and booking expensive restaurants and clubs in town. Glad I stayed out and did a meaningful job instead.
I got the impression there that "commerce" was the end-all-be-all, and that econ majors are the people who actually study this business thing (as opposed to be awesome, network, and be awesomer, and get drunk).
And from the resumes I've seen, a business degree will leave open some pretty uninspiring opportunities. Usually low-end stuff -- assistants with titles other than 'assistant'. Perhaps in Canada, it's different.
Really, how naive are we supposed to believe he was? He was a Wall Street trader but hadn't thought capitalism all the way through to the fact that gasp! factories get closed?