It isn't only recent graduates that are out of work these days. Engineers with over 15 years experience are out on the street with little or no chance of finding work. So don't blame it on laziness or ineptness, as these people are the ones who HAVE written much of the software that not only you and I use everyday, but that which forms the infrastructure of our nation's telecommunications network.
I'm certainly going to grant you a big point - management in high tech companies comes from the MBA programs. They're clueless about what it takes to have a successful technical venture.
Hey, dudes - if you want to have a technical business, you need technical people.
You'd think that MBA types would get this, but they don't.