reply to post by xuenchen
Good OP, xuenchen, but this is not as surprising or uncommon as one might think. Please don't think that my frustration, which comes through loud and
clear, is pointed toward you. It's directed at the bumbling idiots we consistently vote into office, the general lack of apathy or caring by the
general public (as long as their own kids are taken care of) and the inequity of a system which is so outdated as to be considered criminal in my
The study exposes the fact that many college regents are present and former **Bankers** !!
Not surprising considering that they're in on the knowledge of how the system works and how to use such knowledge to secure cushy regent posts and
line their pockets with these funds.
Makes us wonder if the nation's universities and colleges are engaged in speculative financial markets ?
Well of course they are and probably always have been. I would be shocked to learn that they just take the tax $$ and put them in a no or low
interest bearing account or - G*d forbid, government bonds that won't mature for 20+ years. Just like any other business, they look for the biggest
possible bang for their buck. As sad as it is, even our educational system is a business - take a look at the high price of college loans, cost of
educational materials, etc. if you have any doubt about this. Sometimes the risk pays off and sometimes is doesn't just the same as any other stock
investment. The pitiful thing is that the majority of citizens who vote to pay these excess taxes out of their own pockets - those who think they are
benefiting their own children - have no clue that these decisions are placed in the hands of people connected to or compromised in some way by Wall
Street. I'm not advocating this system mind you, merely stating the obvious.
More alarming might be the possibility that College administrators may be bought off to go along with the program ...
Don't want to sound too cynical here but are we really shocked by this? Probably 99.9% of the population is corruptible in some way or another.
Again, it's a disgusted commentary on our society but in my opinion, it's the truth nevertheless.
Also, just for the record, California is not the only state that has voted to supplement educational funding (not your mistake but the a result of the
grandiosity of the Gov. of California). In 2010, Gov. Christopher Christie of New Jersey slashed funding for public education by $820 million and aid
for colleges and universities by $175 million, among other cuts.
All of the statistics can be found here
in an article published by The Daily
Princetonian. Although the article highlights how a small portion of the counties were affected, I lived and raised my kids in Bergen Co. and can
tell you that it was state-wide. According to the article:
“In New Jersey, each school district operates as a separate entity,” Keevey added. “It’s up to local school districts to see how they’ll
deal with reductions.”
Well, how did we deal with it? By individual tax referendums which were voted on by each town's (or school district's) constituency. I remember
having an educational accessment placed on my property taxes ranging anywhere from $1,500 to $7,500 in some cases. Unfortunately, the wealthier areas
passed these referendums fairly easily whereas the poorer areas suffered greatly. Not only was Gov. Christie derelict in his actions, but so was the
philosophy of "each school district for itself" which facilitated an inequity in privately provided funds. This was truly saddening.
edit on 11/18/2012 by timidgal because: (no reason given)