Investment Banks Versus Hawaii's Public Schools
edited: Tuesday, December 29, 2009
By Nate Roderick
Not "rated" by the Author.
Posted: Tuesday, December 29, 2009
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Hawaii's public schools have resorted to a four day work week while investment banks resume earning multi-billion dollar profits. Why is only one too big to fail?
Which is Too Big to Fail?
Hawaiian school children have most Fridays off. To absorb a $468 million budget cut over the next two years Hawaii's Department of Education has imposed 17 furlough days this school year. Meanwhile, investment bankinggiants Goldman Sachs and JP Morgan Chase each reported multi-billion dollar profits in the third quarter of 2009, just one year after needing government assistance to survive. With Hawaii's public schools resorting to a four day week while investment banks resume earning astronomical profits, one is left to wonder - why is only one of these institutions too big to fail? Read the article.