The Néw York Times reports that the top 25 hedge fund managers took home $11 + billion in 2014, even though it was not a good year.
Readers of this blog know that certain hedge fund managers have used their wealth to advance the privatization of public education , not only in Néw York, but in other states as well.
If only we could find one hedge fund manager who understood the value of educating all children.
Diane Ravitch's blog 
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If only we could find one hedge fund manager who understood the value of educating all children.
But they are laying claim to the idea that they, and they alone, are helping students succeed even if the students are from low income households and are “trapped in failing schools.”
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Of course they do and they will continue to do so until people understand they’re screwing us using the accounting structure that drives one hundred percent of our nation, the CAFRs. There’s no money in the budget? Yeah well of course not any time a profit is encountered these criminals on all levels turn it into a funded liability. Lies via omission.
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If only a fair portion of the money that pours into the private pockets of the 85 richest people could be spent on the needs of our nation… there is insanity when 85 people have more money then all the rest of the WORLD’S POPULATIONS.
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I’m sure Bernie Sanders will make certain every voter is aware of this…
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At least we now have a choice of a viable candidate…well at least an informed and honest candidate…vote for Bernie!
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yes maybe we can have a test that they allo have to take and see the results and get them published! Who would write the test?
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When money, not people, is the bottom line
THIS
is what to expect.
The rich get richer, the poor get poorer and the middle class disappears.
Love of money — the Root of all …
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Diane,
I did a calculation based upon a 40-hour work week, two weeks of vacation, and 11 federal holidays and figured out that to make $1,000,000,000 per year, you have to make $532,000 per hour. Nobody is worth that. That is hundreds of times more than a brain surgeon makes. This is not based upon ability, but on setting up a system that can be gamed to make obscene profits.
Turn it around, and once you have made a billion dollars, it would take you 100 years to spend it at a rate of $5320 per hour. How much is enough? Apparently greed has no boundaries.
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Is it really true hedge funders like charter schools because they can make money on them on account of tax breaks? What a mess.
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Well, Jim Simons (Renaissance Technologies) has created Math for America, which provides professional development and stipends for public school math and science teachers. It allows us to learn more content, share best practices and it also incentivizes staying in (and assuming leadership positions in) public education.
To be sure, Mr. Simons and his associates make a fortune. That said, he has done a great deal to help public school science and math teachers. Moreover, his organization has spread from one to seven (maybe eight) cities.
He is also not a “charter-monger.”
Let’s not throw him under the bus so fast.
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Given that hedge funds charge a 2% fee on all assets under management, plus 20% of all profits (“2 and 20”), and that the overwhelming majority of them underperformed the S&P 500, it might be worthwhile to ask what value they add.
Oh, sorry, that’s only demanded of teachers.
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