Tony Bates points to the decline in funding that it is making it increasingly difficult to sustain public education. While I have my criticisms of the university system as it exists today, and while I think that professors and administrators have not helped the cause of public education, it should be clear that the cause of the funding crisis lies outside the university system. We all, I think, know exactly what the problem is. "Banks over-extended themselves in silly, unsecured loans that drove mainly the construction industry. Now public servants such as teachers, civil servants, and health workers are being told their salaries and pensions will be cut, and there will be reduced funding for post-secondary education, in order to pay off the massive debt the government has occurred in bailing out their banks. As Gordon Gekko, the character played by Michael Douglas says in 'Wall Street: Money Never Sleeps': 'This is the perfect solution: privatize the profits and nationalize the losses.'"
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