Previous posts in this discussion:
PostTrump U, and a Beauty (Pageant) Blunder (Bienvenido Macario, USA, 06/07/16 5:51 am)
I read with much interest Ric Mauricio's experience with marketing ploys like that of Trump U (5 June). They are dime a dozen. In the US marketing and advertising is not lying. It is selling. It doesn't matter what you say or how you deliver your sales pitch; just sell. After all, there is the standard unwritten and unspoken warning: "Buyer beware."
See: "The Day I Was Thrown Out of Trump U" (Ric Mauricio)
The worse scam involves the government, and the mortgage scam is the worst. It was only after the Financial Crisis that the government went after the mortgage banks, Wall St. investment bankers who sold the CDOs, and for the first time the rating agencies. These firms were punished and fined, but the government kept the fines to pay government-sponsored enterprises like Fannie Mae and Freddie Mac. When will Congress and GSEs ever get punished?
I would now ask WAISers, especially those in the teaching profession, if today's education especially in finance and economics is one big scam.
Here is one example:
See: Miss California Struggles to Answer Question About Economy at Miss USA Pageant 2016
Published on Jun 6, 2016
The question was: "One of the biggest challenges facing the United States is social and economic inequality. How do we narrow the gap between the rich and the poor?"
Response: When Nadia Mejia was asked a question about economic inequality, she said that "the rich and poor need to stop being so segregated" before appearing to pause during her answer at the pageant.
JE comments: Isn't she correct? School busing worked on the same principle. Keep in mind, too, that Ms. Mejia is 20. "When more and more people are thrown out of work, unemployment results." --"Silent" Cal Coolidge
I cannot agree with Bienvenido Macario on education scams. They prey on people's illusions and desperation. This is why legitimate institutions go through rigorous accreditation processes. Would Bienvenido suggest we apply the same "buyer beware" laissez-faire attitude, say, to hospitals?
We should throw in another YouTube clip. At least Ms. Mejia is not running for president: