(In light of the impending stimulus package making the rounds on Capitol Hill, the following is a riff on remarks made by President Barack Obama following a meeting with his education economic team. The original can be read in its entirety on the official White House blog.)
One point I want to make is that all of us are going to have responsibilities to get this economy education moving again. And when I saw an article today indicating that Wall Street bankers Congress had given themselves the education system $20 billion $100 billion worth of bonuses in new spending — the same amount of bonuses as they gave themselves in 2004 effectively doubling federal funding of education — at a time when most of these institutions were are teetering on collapse and they are asking for taxpayers to help sustain them, and when taxpayers find themselves in the difficult position that if they don’t provide help that where they don’t have any other choices for educating their children, the entire system could come down on top of our heads if the next generation – indeed, this generation – can’t compete in a global economy — that is the height of irresponsibility. It is shameful.
And part of what we’re going to need is for folks on Wall Street in the education BLOB who are asking for help to show some restraint accountability and show some discipline transparency and