Friday, April 12, 2013

Much, Much Worse

Money Quote: "The problem isn't just about no-name law schools churning out JD's nobody wants to hire. Even graduates at some of the country's top programs are struggling."

"Much, much worse" than WE think is really saying something.


Money Quote: "It really is possible to get the best from an elite education without getting trapped in post-graduate hell — if only you’re willing to replace your love of money with a tolerance of debt, and you’re willing to flout the rules of absurd competition that produce so many credentialed casualties."

"Calls Mount for Changing How Interest Rates are Set on Federal Student Loans," by Kelly Field (The Chronicle of Higher Education)

Money Quote: "President Obama's budget for the 2014 fiscal year, due out on Wednesday, is expected to propose moving to market-based interest rates o federal student loans."


  1. "if only you're will to replace your love of money with a tolerance of debt"

    Holy shit, he's actually serious.

    1. It's the Dr. Strangelove approach to law school.

    2. I thought the guy makes some sense. This quote which follows is right: "The upshot of my strange and technically unsuccessful journey through elite education is that knowledge isn’t the ticket out of a limited social sphere that I once thought it was. But wisdom — or, to put it less pretentiously, learned life lessons — probably is."

      The only thing, for most people, is to figure out just what ARE these "learned life lessons." IMO, it means that you figured out, after all that schooling, that you are not elite or entitled and that you ARE going to have to get out there and scratch until you figure it out.

    3. Weissman has the middle class mind set - the slave mind. I mean he must have been in school racking up debt until he was thirty. The life lesson people need to learn, and they need to learn it early, is that MONEY is what gets you out of your limited social sphere. "Wisdom" and "learned life lessons" get you jack shit. Any sane person and everybody in the upper class will define escaping your "social sphere" as having more assets and less liabilities than those born in a similar situation. Weissman defines it as having less assets and more liabilities. Then throws a few feel-good buzzwords like "wisdom," "learned lessons," and "top-shell legal education" to make himself feel better.

      Replace love of money with a tolerance of debt?
      It's worth its weight in debt?
      Get fucking real.

    4. Read the quote again. He's saying "knowledge" (as in a college edumacation) isn't going to be your easy ticket. Instead, wisdom is (as in start a business being a plumber and grow it, since this is likely to earn you just as good money or better). "Wisdom" ought to tell you, after spending $200k to go to law school, that you could have done just as well as a plumber, electrician, locksmith, etc. It's not book-smarts, but street-smarts, that is your ticket. Some people have a bit of both.

  2. "It's not book-smarts, but street-smarts, that is your ticket. Some people have a bit of both."

    This is why I'm getting into drug dealing.

  3. It's nearly impossible to find well-informed people on this subject, but you sound like you know what you're talking about!


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