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Saturday, June 13, 2015

Is the NYTimes taking bribes?

One more article on how student loans are not a crisis, and I may start a campaign of terror against the New York Times. I'm not violent- so it would have to be a campaign of symbolic terror, but still.
What passes for journalism today is laughable. The latest report is mind boggling in it's stupidity. Pulling on numbers from 2003 (before the financial crisis and a over a decade's worth of growth in tuition which outpaced inflation) the author makes an argument irrelevant to anyone today.

Had this been an isolated incident I would have just assumed that Susan Dynarski was a low level crack addict in rehab financing her dalliances by writing articles for the NYTimes...but the trend goes beyond this author. I have watched this issue be continually distorted by the NYtimes for quite a while. Respectable reporters opine to the public that there is no real issue. All of them draw on selective outdated data. Whatever parts of the public are convinced clearly suffered from the lack of education enhanced by this pyramid scheme funding deal we call the current American educational system. If one peruses the talk-backs one will notice however that no one really seems to fall for this nonsense. Everyone knows that we are being ripped off by institutions who have gone out of control. Administrators who earn millions while sinking students into ever deeper debt before they enter a workforce they are poorly trained for...but perhaps well trained for in the sense that if nothing else they will understand that a powerful elite will make their lives miserable, and if they won't conform, even more miserable than that. One only need peruse current statistics about labor to realize that many new grads are headed into well, hell. I would like to see one of these pretentious reporters try to raise a family on the wages available to a low level hospital worker or any of the other jobs with any nuance of stability in our new economy while paying off student loans. Given the new arrangements around labor, in which so many formerly decent jobs are slowly being turned into independent contractor positions, perhaps being suckered and abused is good training.

The only real question left is how precisely such distorted views continually make the pages of the NYTimes. Does the editorial board have a number of people with financial interests in Navient? Do financial lobbies continually pay off the editorial board? Are the writers on the staff of banks as consultants? If this sounds outlandish, consider that I recently ghostwrote a "news" article for a mid-sized paper, which was directly funded by a couple private companies. That what I wrote will never be understood as the marketing copy it was is outrageous; but not quite as outrageous as the student loans I am servicing.....

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