Bluegrass Against the Machine: Rising Appalachia: Tiny Desk Concert

mmmirele2/08/2020 2:34:27 pm PST

re: #86 Quoth the raven, Covfefe.

Which is no longer feasible even for middle-class white people, due to the sharply rising price of college education and the lack of growth of income on the low end. Elite rich white men can still get their sons into the old school single-earner club, but that’s basically a status symbol now instead of the norm.

Even elite white guys are doing stupid shit to ensure their progeny’s future. This guy Douglas Hodge, who was the head of asset management fund Pimco until he retired in 2016, he was just sentenced to prison for nine months for his part in the tuition scandal.

Hodge paid bribes totaling $850,000 over nearly 11 years to get two of his children into Georgetown University and two others into the University of Southern California, prosecutors said.

This is a guy who made more in a year (2014) than I would see in a dozen lifetimes. (That would be $45 million, according to Wikipedia.) But he still engaged in bribery to get his kids into Georgetown and USC. Probably because he didn’t want to spend a lot of money like some nouveau riche relative of mine by marriage did to get his kids into a prominent Texas university—by endowing a chair for the business school. Now Hodge is going to prison.