Perdido 03

Perdido 03

Sunday, February 22, 2015

NY Post Tells Lies Around Wall Street And Education Reform

Bob McManus in today's NY Post:

New York’s education cartel has been set back on its heels by a new breed of reformers, and the unions need someone to blame.

The result?

Anti-reformers have trotted out the hoariest bugbear in New York politics — the evil of Wall Street — and constructed a hilarious lie: that the education reform movement is actually camouflage for a hostile takeover of the city’s public schools.


But here are the questions that need to be asked:
  • Why would greed-driven money moguls want New York’s schools in the first place? And, if once they took title, what would they do with them?
    Set up a market in graduation futures?
  • Short-sell dropout rates?
  • Or is it all a paranoid Occupy Wall Street fantasy?
Especially given that the market is already doing nicely off the teachers-unions’ $35-billion-dollar pension-fund equity investments. This eye-poppingly significant sum underscores what should be obvious: There really is no significant money to be made by tipping over New York’s public-school lunch coach.

Rupert Murdoch, Bob McManus' boss and the owner of the NY Post, in a November 2010 press release announcing his purchase of Wireless Generation, an edu-tech company handed million dollar contracts by former NYCDOE chancellor and current Murdoch employee Joel Klein:

“When it comes to K through 12 education,” Murdoch said in a statement about the Wireless Generation purchase, “we see a $500 billion sector in the U.S. alone that is waiting desperately to be transformed by big breakthroughs that extend the reach of great teaching.”

No money to be made by Wall Street in education, Bob?

Tell that to your boss, Rupert Murodch - I bet that'll come as a surprise to him.

McManus isn't the only Murdoch minion to be hawking this line - so is Fred Dicker:

Here was my reply:


  1. Good for you..Don't forget the "New Market" tax credit which provides tax incentives to invest in Charter schools.

  2. Our friend Cbris Cerf is cashing in too. Do you think they could utilize Cami Anderson's skill set?

  3. Maybe Joel Klein turned out to be a dud in his current sales gig?
    Joel Klein and Murdoch are looking to blame someone or something. Who are they going to blame when they look in their mirrors?

  4. McManus and Dicker = Waterboys for Wall Street.

  5. my daughter is a machine learning expert who currently works for a company as part of an MIT team. Wireless generation would not even give an interview once they realized that her parents were teachers!

  6. RBE, I was so pissed off when I read this piece that all I could do, at least momentarily, was sputter. I knew there had to be one, straight, obliterating response and you hit it. Thank you.

  7. Dicker, McManus, Goodwin, Peyser and Malkin: Useful fools of the idiocracy. Representation of the interests of crony capitalism in all its wjorey and hoary glory!

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  9. "Education cartel" -- you can Gov. Cuomo for that canard.

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