School Tech Connect: Post-Mortem on Food Stamps

School Tech Connect: Post-Mortem on Food Stamps

Post-Mortem on Food Stamps

by effacethefacade@yahoo.com (Tim)

Like I said yesterday, I'm mortified that I was gunning for the Edujobs bill without realizing that we paid for it with food stamps. Mea Culpa. I should have known, but here's what went down.

Like everyone else, I've been paying attention to David Obey, and I saw this article where he tells us that the Administration floated the food stamp idea rather than touching Race To Union Busting. I stopped following the thing at that point because I thought Obey had put

Who Could Have Known?

by effacethefacade@yahoo.com (Tim)

In today's Times, there's a story about how the Denver schools bought a JP Morgan Chase derivative product to "plug the gap" in their pension system rather than issue traditional bonds. It failed, massively, what with nobody really understanding that derivatives were actually just other people's garbage bundled off by criminals.

Since it struck the deal, the school system has paid $115 million in interest and other fees, at least $25 million more than it originally anticipated.

Nice going! Anyway, here's the interesting part, and I'm just going to steal it with the