A group of 400 faculty at New York University has issued a devastating 14.000-word attack on the university as greedy, predatory and unprincipled. The group, Faculty Against the Sexton Plan (FASP), referring to John Sexton, who has just stepped down as NYU president, says the University uses a mind-numbing range of tricks and traps to extract as much money as possible from its students, including unusually high and semi-hidden fees in fine print that few students are aware of.
The report, “The Art of the Gouge,” says NYU admits the highest number of foreign students of any U.S. university, thus gaining large profits from extra costs charged to non-Americans. Blogger Yves Smith at Naked Capitalism says NYU has been operated “as a real estate development/management business with a predatory higher-education side venture,” picking up huge chunks of Greenwich Village real estate and financing expensive city and country homes for allies and some favored professors.
A John Sexton summer home on Fire Island has been financed by several million dollars in loans from the NYU School of Law and by NYU itself. Sexton also has the use of two of NYU’s Manhattan apartments and is set to receive a $2.5 million bonus this year. He also has an annual pension of $800,000—almost $600,000 more than the presidents of the U.S. in 2014.
You can read the entire “Art of the Gouge” report by clicking below:
Part One – Click Here
Part Two- Click Here
Part Three- Click Here
It’s not just NYU…..same thing’s going on across the country. I’ve been saying for years that college is a scam. But what do I know, I’m just another 32 year old nobody, and a hillbilly at that.
I refuse to pay into this corrupt and wicked system any longer.
I’m not surprised to see that the law school is involved in this — what law schools have done is make it virtually impossible for Americans to afford legal representation for most issues (increasingly to even find it, at any price.
Newly-minted lawyers enter the profession with massive debt which forces them to (a) not only accept certain types of high profit cases, (b) “cherrypick” — only taking the simplest of these cases, (c) assuming they didn’t go in to the much more stable fields of corporate/financial law and/or work for a governmental or non-profit entity — WHILE certain groups of people have free representation for certain types of cases.
Women in cases involving allegations of domestic violence (either as victim *or perp*, minorities alleging racial discrimination, environmental lawsuits — these casees make it into court because they have free legal representation. They are feared because of the expense of defending against them.
Some specific disability issues — both in terms of discrimination and “accomodations” likewise enjoy this representation while other disabilities don’t, with it often being impossible for those with those disabilities to obtain legal advocacy at any price.
Don’t even get me going about the asinine “Save the Whales” stupidity — the regulations increasingly imposed on Maine Lobstermen are truly asinine except that the lobstermen don’t have the lawyers — the whales do…
Hey man – those Ex-Presidents gotta pay them bills!
This may provide a contrast, the early yrs of NYU
Savior of NYU – Dr Isaac Ferris http://www.ferrisfamily.us/savior-of-nyu-dr-isaac-ferris/