Tag Archives: Wall Street

Educators More Important Than Wall Street Execs

photo of crime signSometimes those of us in education grow weary of the escalation of Wall Street compensation while educators’ pay remains stagnant or declines. One might draw the conclusion that the world values Wall Street types more than academic types, and we know that cannot be so. Now we have the evidence from The New York Times. Beverly L. Hall, a district superintendent in the Atlanta school system, drew the attention of prosecutors who decided she is worth a $7.5 million bond, while back in New York City Michael S. Steinberg, worker at SACS Capital Advisors who made tens of millions trading “investments,” was released from custody on a mere $3 million bail.  Now Ms. Hall allegedly hauled in over half a million dollars over several years from her activities, and prosecutors consider her worth (by bail and bond standards) over twice as much as Mr. Steinberg. Let’s not miss this chance to highlight a shift in society’s appreciation of what educators do.

P.S. Note that neither of these people has seen her or his day in court, and it might be time to roll out the bromide: each is innocent until proven guilty.


A Long-distance Dedication for Wall Street

The number ninety-nine has a new valence. Maybe the Wall Street CEOs will try to have the song banned.

What Has Changed on Wall Street? — Nothing

Andrew Sorkin has been studying the financial meltdown on Wall Street, followed by the epic financial bailout on Wall Street, and Jon Stewart thought erroneously that some lessons might have been learned, and that people might have adjusted their views on capitalism.  Sorkin informs Stewart in the interview that Wall Streeters still think “greed is good.”  Watch the interview.  As further confirmation of the repetition compulsion in the financial sector, Michael Douglas will appear in a 2010 film called Wall Street 2: Money Never Sleeps.  The Sorkin assessment counts as something more than plus ça change, plus c’est la même chose, because Obama claimed to be the presidential candidate of change.