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I mean, the loan industry still does deserve scorn when they make loans that hurt society rather than help. They should at least strive to focus their efforts o

I mean, the loan industry still does deserve scorn when they make loans that hurt society rather than help. They should at least strive to focus their efforts on deals where everybody wins, especially when the taxpayer is the one who foots the bill when they lose. I do agree that our education system is the most at fault, though I would make administrators as criminals before teachers. Administrators are the ones who continually spend their schools' funds on pretty buildings, sports teams, and raising their own salaries. That money could be used to develop better educational methodologies, raise teacher salaries (in the case of K-12 where viable STEM professionals would be taking a giant pay cut compared to industry), and improve the quality/quantity of resources that students really need to succeed (not a new football stadium). Parents and employers are typically reacting to this environment, not generating it. Employers require more education due to the failures of K-12 and some universities. Parents try to recognize what their kids will need to get a fulfilling career (we hope), though they may lack the understanding to do so effectively.

rayiner 9y ago
> the loan industry still does deserve scorn when they make loans that hurt society rather than help. They should at least strive to focus their efforts on deals where everybody wins, especially when the taxpayer is the one who foots the bill when they lose. Lenders don’t have a choice. Student loans are originated without regard to ability to repay. Indeed, today, lenders are just responsible for servicing and refinancing—the federal government handles all loan origination. It’s the quintessentially American way of solving problems in the most expensive way possible. Instead of actually addressing social and racial injustices. we tell disadvantaged people to go to college and then make it illegal to deny them outrageous student loans on the basis of their financial ability to repay. The primary beneficiaries are, of course, the petit bourgeoisie—school professors, administrators, etc.
ams6110 9y ago
You're right about the gratuitous overbuilding, administrative bloat and salaries, but at most schools athletics is a self-funding enterprise, via ticket sales, advertising and sponsorships, merchandise, and donations.

rayiner 9y ago

> the loan industry still does deserve scorn when they make loans that hurt society rather than help. They should at least strive to focus their efforts on deals where everybody wins, especially when the taxpayer is the one who foots the bill when they lose. Lenders don’t have a choice. Student loans are originated without regard to ability to repay. Indeed, today, lenders are just responsible for servicing and refinancing—the federal government handles all loan origination. It’s the quintessentially American way of solving problems in the most expensive way possible. Instead of actually addressing social and racial injustices. we tell disadvantaged people to go to college and then make it illegal to deny them outrageous student loans on the basis of their financial ability to repay. The primary beneficiaries are, of course, the petit bourgeoisie—school professors, administrators, etc.

ams6110 9y ago

You're right about the gratuitous overbuilding, administrative bloat and salaries, but at most schools athletics is a self-funding enterprise, via ticket sales, advertising and sponsorships, merchandise, and donations.