(Community Matters) I’m historically such a fan of the Wall Street behemoth and especially many of its employees – inarguably among the best and the brightest. And, I’m a huge follower of Nobel-winning economist Paul Krugman, thus I’ve got to really consider my position when he makes his case.
Goldman, famously, made a lot of money selling securities backed by subprime mortgages — then made a lot more money by selling mortgage-backed securities short, just before their value crashed. All of this was perfectly legal, but the net effect was that Goldman made profits by playing the rest of us for suckers.
The bottom line is that Goldman’s blowout quarter is good news for Goldman and the people who work there. It’s good news for financial superstars in general, whose paychecks are rapidly climbing back to precrisis levels. But it’s bad news for almost everyone else.
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David Brooks on community colleges
Community college enrollment has been increasing at more than three times the rate of four-year colleges.
. . . . And the investment seems to pay off. According to one study, students who earn a certificate experience a 15 percent increase in earnings. Students earning an associate degree registered an 11 percent gain.
. . . . It’s a blind spot in their [our] consciousness. As a result, four-year colleges receive three times as much federal money per student as community colleges.
Community Matters 