Category: News and Opinion

Care to Comment Mssrs Bloomberg and Schumer?

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From Bloomberg News: "JPMorgan Chase & Co. Chief Risk Officer Barry Zubrow will tell Congress that regulators risk impeding the economic recovery by going too far in tightening bank rules and raising capital requirements…A capital surcharge on the largest global banks combined with higher U.S. margin requirements for certain trading accounts 'currently risks doing more harm than good,'" and "puts U.S. firms at a 'distinct and unnecessary competitive disadvantage.'"

Funny, that's exactly what the financial industry convinced Bloomberg and Schumer to say in a report in 2007, a report I commented on in June 2008. The financial industry has clearly either learned nothing, or has learned that it could bully its way to increased concentration, power and bailouts. Has anyone else learned anything?

THE REPUBLICANS MAY HAVE FINALLY FOUND A PRESIDENTIAL CANDIDATE WE CAN ALL SERIOUSLY CONSIDER

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I am a registered democrat. That’s well known. As a naturalized citizen, I have only been able to vote in the last four presidential elections. I have voted three times for an independent candidate (Nader), and the other vote went to Barack Obama. In the past I never felt republican nominees offered me much as an option: thus they were minimally considered.  

The Real SUNY and CUNY Issue

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The counter implies that I wrote about 11,000 words on comparative public school finance, addition to compiling the spreadsheets. There are probably those who think I’m more of a dweeb for that I do online than Anthony Weiner is for what he did online, particularly since I’m doing it on my own time. For those who read the four posts, downloaded the spreadsheets, and printed them, out congratulations – you now know at least as much about the subject as I do. To complete your education, and your dataset, you might want to read this post and download the spreadsheet with Census Bureau education finance data (from another data source) from FY 1972 to FY 2008 as a percentage of personal income.

Recently, the press was full of the sort of tribal issue that political types love to participate in and the media loves to report on. It seems that a playwright, who did not attend CUNY, was proposed to be granted an honorary degree by that institution, which perhaps wanted to highlight the excellent achievements of alumni of New York University and Columbia. But the proposed honorary degree was objected to and, I believe, not granted based on something the playwright may have said about Israel. Much outrage was engendered on all sides, and the real issue for SUNY and CUNY was safely ignored. That issue is as follows.

Of Water and Fire

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In the movie Chinatown we learn of incest, betrayal, violence and corruption all so Los Angeles can be provided with a sound supply of water.  Well, 60 miles north of New York City in the Town of Fishkill similar chicanery is going on that is endangering the lives of an entire neighborhood of families according to one resident who asked to remain anonymous.

Trends in NYC Education Finance: Same Victims New Predator Part 3

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The previous three posts showed that after being underfunded in the past, spending per student in the New York City public schools soared to levels that by FY 2009 not only far exceeded the U.S. average after adjustment for the cost of living, but also exceeded (on average) other parts of the metro area in the Downstate New York Suburbs and New Jersey. But a large share of the increased spending went to a category in which New York City’s spending was already high – instructional employee benefits, particularly on the retired, as rich benefits for those not working and no longer working became richer still. So instead of money being drained from the classroom to got to the overfunded school districts in the rest of the state due to the state school aid formula, money has been drained from the classroom to go to the retired due to a series of retroactive pension enhancements.

FY 2009 is the most recent data from the U.S. Census Bureau, and thus the most recent data for which New York City education finance may be compared with the U.S. average and other places. This post uses New York City “Budget Summary” documents dated May 2009 and May 2011 to analyze how the city’s spending has changed from FY 2009 to FY 2011, and how it is proposed to change from FY 2011 to FY 2012. A spreadsheet is attached, with data in $millions. The data is not inflation adjusted, as inflation has been low in this period of recession, and compensation increases for most workers have been absent or negative. And it is not per student, as I don’t have enrollment figures and estimates for these years, just total. But if enrollment in FY 2011 is at the same level as it was in FY 2009, spending per student is up to $23,167 this year. An incredible sum.

ANOTHER ANTHONY WEINER COLUMN: HOPEFULLY MY LAST ON THIS WIENER MATTER

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Let me get this correct: so far it hasn’t been proven that Congressman Anthony Weiner has committed adultery; or patronized prostitutes; or stolen money; or avoided paying taxes; or assaulted anyone;  or corrupted the morals of a minor; or taken any bribes; or perjured himself in a legal matter;  or abused his powers of office;  or was censured by the House of Representatives;  indicted or convicted; yet he is being pressured to resign; when others who have done  some of what I just outlined are still in office.  I will say this again: until it is shown that Weiner has broken some l

The Gateway (Gayt Marriage Edition)

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This is the most unexpectedly touching video since McGreevey said "I am a Gay American."

Congrats especially to Tom Duane.

People questioned Duane when he publicly befriended Kruger (bringing him a can of soda on the Senate floor) at a time when most of his conference made Kruger persona non grata.

Now we understand why.

Trends in NYC Education Finance: Same Victims New Predator Part 2

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As noted in my previous post on education finance, in FY 1996, total public school expenditure per student – with a cost of living adjustment for NYC – was 1.4% above the U.S. average in FY 1996, and 36.5% above the U.S. average in FY 2009. As we face ongoing cuts to the actual education provided by the New York City schools, this huge increase in the city’s relative spending has changed my understanding of what the cause of decreased educational quality is — underfunding compared with being cheated of fair value.

But most of those discussing education finance policy are either funded or supported by those with a self-interest in taking more for themselves, or tribally aligned with one position or another and unwilling to consider facts contrary to their world view. Thus, according to many people who have commented on my internet comments, posts or reports over the years, what has actually changed is that I have gone from someone in the pocket of the United Federation of Teachers who hates the suburbs and Upstate New York, to someone in the pocket of corporate interests who hates teachers and wants them to eat cat food when they get old. But while facts may interest only me, I’ve done the spreadsheets so I might as well discuss what they say.