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The College Hoax

2009-02-08 01:48:04.059993+00 by Dan Lyke 4 comments

[ related topics: Education ]

comments in ascending chronological order (reverse):

#Comment Re: A bit off-topic; can't create a thread. made: 2009-02-09 18:40:17.918494+00 by: jeff

But still a scam, nonetheless. WTF? Madoff striking a deal?

This guy should never see the light of day.

#Comment Re: made: 2009-02-09 19:07:45.218285+00 by: Dan Lyke

Jeff, that's just the civil proceedings, not the criminal one, and I can see reasons to make such a deal: If Madoff chooses to fight the civil case it could take a while and let him both milk what money he still has for his own purposes, and would cost money for lawyers on the SEC side. Think about the SEC fighting the civil case for three or four years, and Madoff dies in the interim.

#Comment Re: made: 2009-02-09 19:26:51.308862+00 by: jeff [edit history]

Dan--you're right. When the story originally broke this morning, it didn't have all of those details. It was basically, "Madoff and SEC make deal."

This poor excuse for a human being deserves "no deal," in the minds of many.

#Comment Re: made: 2009-02-11 00:51:40.837821+00 by: andylyke

When I was out of work in 2001-2, I briefly worked at a diploma mill, that advertised that $1M lie. It's probably true that people who've gone to college make that much more, but post hoc, non propter hoc. The correlation between going to college and making money is just that- a correlation, not a causal relationship. You can get just as good an education from a public institution as from a private college or, more unlikely than that, a for-profit proprietary college. Education is generated by the student, not the institution. The only reason, in my experience, to go to an expensive - read that Ivy League, or equal, institution, is to develop connections. If you don't come from wealth, you probably won't be savvy enough, or connected enough, to get into Skull and Bones, or other connections clubs.