Joel Seligmen, President of the University of Rochester and expert on securities law, gives his take on the proposed bailout currently before congress.
Brian misses the point as usual. What brought about the Wall Street mess? Ultimately, people buying houses they couldn't afford. Houses in fancy neighborhoods. Houses with gold plated bathroom fixtures, houses that were too big, houses with Jacuzzies, enormous walk-in closets, granite counter tops.
Stay with me here. People took out larger loans than they could afford to get something that was much more than they needed.
COLLEGE COSTS ARE THE SAME. You know what you need to have a college, faculty, a library, and possibly some labs. What don't you need? EVERYTHING ELSE. Career offices, recreational centers, computer centers, marketing offices, student services, housing, housing offices, etc, etc, etc. These frills are what's behind the high cost of a college education. We don't need new loan programs, more grant programs, etc. We need to get back to basics.
Just like we do with housing. Why did Brian bring this up with his guest?
Sep. 24 2008 11:20 AM
Score: 0/0
Chris
One possible 'new role' for the SEC could entail uniting the SEC with the CFTC so that one agency can actively monitor both stocks/bonds and the futures market.
Sep. 24 2008 10:59 AM
Score: 0/0
Jose
from Queens
It just seems like Paulson is trying to rush people into this deal. He sounds like somebody trying to hustle you at the airport, trying to scare you with all sorts of disaster scenarios, unless you act now, without thinking a lot.
Sep. 24 2008 10:57 AM
Score: 0/0
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Comments [3]
Brian misses the point as usual. What brought about the Wall Street mess? Ultimately, people buying houses they couldn't afford. Houses in fancy neighborhoods. Houses with gold plated bathroom fixtures, houses that were too big, houses with Jacuzzies, enormous walk-in closets, granite counter tops.
Stay with me here. People took out larger loans than they could afford to get something that was much more than they needed.
COLLEGE COSTS ARE THE SAME. You know what you need to have a college, faculty, a library, and possibly some labs. What don't you need? EVERYTHING ELSE. Career offices, recreational centers, computer centers, marketing offices, student services, housing, housing offices, etc, etc, etc. These frills are what's behind the high cost of a college education. We don't need new loan programs, more grant programs, etc. We need to get back to basics.
Just like we do with housing. Why did Brian bring this up with his guest?
One possible 'new role' for the SEC could entail uniting the SEC with the CFTC so that one agency can actively monitor both stocks/bonds and the futures market.
It just seems like Paulson is trying to rush people into this deal. He sounds like somebody trying to hustle you at the airport, trying to scare you with all sorts of disaster scenarios, unless you act now, without thinking a lot.
Leave a Comment
Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.