The Great College Hoax
It now appears that with our economy in the midst of a meltdown, the mass media is finally beginning to report on what I have been preaching about in my last posting, “A Lien On Your Life”. Forbes magazine this week put out an excellent article paralleling the “education bubble” to that of the now bursting real estate bubble. Don’t tell me I didn’t warn you. Buyer beware!
“The two disillusioned attorneys were victims of an unfolding education hoax on the middle class that’s just as insidious, and nearly as sweeping, as the housing debacle. The ingredients are strikingly similar, too: Misguided easy-money policies that are encouraging the masses to go into debt; a self-serving establishment trading in half-truths that exaggerate the value of its product; plus a Wall Street money machine dabbling in outright fraud as it foists unaffordable debt on the most vulnerable marks.”