Greedy. . .

. . . Bastards Prevail . . .

I understand the principle of compromise and the importance of it in the contact of the legislative branch of government.  And I understand that if this bill does not pass it will be more difficult to arrive at a reasonable one with the new congress as it tilts further to the right. But politicians who are in the pockets of giant banks (or other corporations) have absolutely NO right to talk about the lack of compromise in our current congress when the only compromise they want to see is one that succumbs to the well-heeled lobbyists working for those banks and corporations.  Compromise is, and will always be necessary in the process of making laws. But the laws should be of benefit to all the people and not just to a privileged, monied few.

(from NBCNews.com)
". . . Taking to the Senate floor Wednesday afternoon, Democrat Sen. Elizabeth Warren of Massachusetts urged those in her party to oppose the spending bill because of the financial policy language, calling it "a giveaway to most powerful banks in this country." "This is a democracy, and the American people didn't elect us to stand up for Citigroup, they elected us to stand up for all the people," she said. . . "

This bill is dangerous in loosening up on the giant Banks.  Have we all forgotten 2007-2008?  Our banks managed to bring down the entire global economy.  Do we want to see that AGAIN??!!

What do you think?
Tell me at
http://www.rayjozwiak.com/guestbook.html  or at
http://www.ohomusic.com 


OHO's "Ocean City Ditty," the CD single is now available at http://www.cdbaby.com/cd/oho4
(and, if you're in town, at Trax On Wax on Frederick Rd. in Catonsville, MD) OHO is Jay Graboski, David Reeve & Ray Jozwiak.  Please Visit http://www.ohomusic.com 


My latest solo release, '2014' of original, instrumental piano music, can be downloaded digitally at:

(or you can copy-and-paste this URL directly to
your browser:  http://www.cdbaby.com/cd/rayjozwiak4)

Also, be sure to visit:
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Same Old. . .

. . . song?

(from Dylan Ratigan
Host, MSNBC's 'The Dylan Ratigan Show'; Author, 'Greedy Bastards'; Founder, Get Money Out Foundation
Auction 2012: Greedy Bastards and Student Debt)

". . . In President Obama's first speech to a joint session of Congress, he said "education in no longer a pathway to opportunity, it is a prerequisite."  It's no wonder - conventional wisdom says that those with college degrees earn roughly a million more dollars over their lives than those without them.  And there is a vast apparatus of lending institutions and Federal guarantees set up to help put people into college.  They do this not by keeping tuition free or low, as we did as a country after World War II, but by helping people get access to student loans.

This is the essence of what I've been calling The Very Bad Deal, where costs are deferred while benefits accrue upfront.  If you get a student loan, you get to attend college, and college is apparently the key to earning more over your lifetime, to "opportunity".  But student debt has some very nasty tricks and traps that most 18 year olds aren't aware of when they sign on the dotted line, and college may not be the opportunity gateway we've been assured it is.

The scale of the deal is vast and getting bigger - two thirds of those who attend college do so with borrowed money.  In August of 2010, the Wall Street reported that student loan debt surpassed credit card debt for the first time in history.  This amount is now sitting at roughly a trillion dollars.  Higher education inflation is the higher than health care inflation, and two and a half times the rate of normal inflation.  Are students really learning two and a half times as much?

Of course not.  What is happening is that universities have pricing power, and the Greedy Bastard behavior encourages them to compete on facilities and brand-name faculties rather than price and quality.  The Chronicle of Higher Education has described "an arms race of expenditures triggered by the pursuit of prestige."  Student debt also distorts pricing.  If students had to pay the full freight in college, they might be more price-sensitive consumers.  But since the costs of the education they are receiving are hidden, they don't pressure universities to reign in costs.  Lavish living environments, pointlessly luxurious sports facilities, and high salaries for administrators are just symptoms of a system where costs have become irrelevant. . ."

What do you think?
Tell me at  
http://www.rayjozwiak.com/guestbook.html

My latest release, Black & White Then Back,
can be downloaded digitally at:

(or you can copy-and-paste this URL directly to
your browser:  http://www.cdbaby.com/cd/rayjozwiak3)

Also, be sure to visit:
http://www.rayjozwiak.com

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