Tuesday, December 13, 2011

Rehypothecation and Extraction

this is happening: Gov. Brown announces about $1 billion in state trigger cuts
Anyway, here are Governor Brown's comments in full- it runs about 38 minutes.

but- remember 'Cal is becoming a federal university' and UC is becoming an online for profit -so this should not matter much...oh, wait:

"Since state revenues fell more than $2.2 billion short of projections, Brown was forced to initiate “trigger cuts” to education and social services, based on the state budget enacted in June. Both the UC and CSU systems will lose $100 million as a result of the cuts.

Already battered by previous cuts, UC Berkeley will cover the funding reduction by dipping into reserves, campus Vice Chancellor for Administration and Finance John Wilton said in a Nov. 4 interview with The Daily Californian Senior Editorial Board. Student tuition, which was already increased this summer, is expected to rise in order to meet the shortfall."

or maybe some rehypothecation needs to happen?

b/c then the Daily Cal updated their story and had this:

"The cuts to the UC, however, will not be passed on to individual campuses and will be absorbed by the UC Office of the President, according to UC spokesperson Steve Montiel.

“We’re using short term bridging strategies — asset management,” Montiel said. “We’re taking certain steps in the short-term basis to move funds from one pool to another.”

In order to avoid a mid-year tuition hike, the university will look to reserves from its employee health care services. The UC will begin to draw from its employee health care reserve fund — which is used to provide for a possible substantial increase in the cost of health care — to account for the cuts, according to Montiel."

(bold emphasis is ours)
'absorbed by the UCOP'-- as if...
Blackwater is now called-- fittingly-- Academi... maybe inspired by recent UC campus events...they say they were inspired by Plato-- get it-- Plato, plutocrats...
a UC Irvine RA is pissed off at events at a Chick Fil A...something about some former UCLA student's words on a receipt.
Just stuff on the mind- including what US Senator Pat Roberts calls "35 cent words"
What Is Re-Hypothecation, And Does It Explain Why So Much MF Global Money Is Missing?
and Dylan Ratigan has some stuff on extraction- watch it while thinking about higher ed.

for certain types of students there will be a physical campus for others an online experience- and there will be research PhDs for certain types of students and other doctorate degrees for other certain types of students- none of this will be based on race, gender, socio-economic factors-- but will be decided on by some fair final arbiter in the sky...
Cummings is requesting compensation info from the for profits by Dec 23rd.

Religion in the race.

Finally, Newt on UC Berkeley's Bain: “I would just say that if Governor Romney would like to give back all the money he’s earned from bankrupting companies and laying off employees over his years at Bain Capital, that I would be glad to listen to him.” that quote is so Operationally Ex--

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