Home > Uncategorized > The Charter Bubble Isn’t the Same as the Mortgage Bubble

The Charter Bubble Isn’t the Same as the Mortgage Bubble

Several bloggers I generally agree including Valerie Strauss and EduShyster, Jennifer Berkshire, posted about a recently completed study that analogized the charter school movement to the sub-prime mortgage bubble, an analogy I found to be flawed because unlike the sub-prime bubble, that required the taxpayers to bail out the .01%, the charter bubble pays the .01% in advance using taxpayers money. My thinking on this led me to leave a comment that read something like this:

I don’t see any financial peril here. The profiteers won’t lose any money if the charter bubble bursts nor will the taxpayers. The only losers in this are the students who are enrolled in for-profit charter schools that either push them out because their test scores are too low or their behavior is problematic, the handicapped minority students who are barred from attending, and the children whose parents make no effort to either seek out a better school for their children or to speak out against the underfunding of their local public schools. By the time this gets resolved in the courts the students who were short-changed will be out of the failing schools.

Finally, and most discouragingly, court rulings requiring economic and social justice don’t have a record of success. In 1954 the SCOTUS mandated that schools be integrated with all deliberate speed and 42 state supreme courts have acted on or are facing lawsuits over inequitable funding…. and both segregation and funding inequities persist. Why? Because legislators pay no attention to the powerless and voiceless children being raised in poverty.

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