|
 |
12/9/2009
Latest cause of foreclosures: Kids didn’t learn it in school
Nanny State Update: I don’t get this. Why would instructions be issued to teach kids – to be required to teach kids – about taking out a mortgage and the risks of a home loan?.
Why would teachers need to be told to teach kids about money management? How much more of this stuff are these poor teachers going to be mandated to teach?
The state’s Model Academic Standards for Personal Financial Literacy are extensive and detailed. A quick glance at the Table of Contents tells you DPI has it covered. Peek inside (Credit and Debt management, pp. 8 - 10) and you’ll see tons of objectives and sub-objectives for 4th graders, 8th graders and 12th graders. Check it out. Yes, I think we’re covered!
AB 459 received a public hearing early this month in the Senate Committee on Education and earlier whisked through the Committee on Housing, 7 – 0. I suppose the bill is well on its way to passage. It was sponsored in the Assembly by Rep.’s Soletski, Spanbauer, Berceau, Clark, Grigsby, Hraychuck, Jorgensen, Mason, Molepske, Petrowski, Shilling, Turner, Young, Zigmunt and Sinicki. Senate co-sponsors are Senators Taylor, Lehman, Hansen and Schultz, all “by request of The Speaker’s Taskforce on Preventing Home Foreclosures.” [All are Dems except Spanbauer, Petrowski and Schultz.]
School districts must now meet existing “model academic standards” for “personal financial literacy.” Do those teachers have to be told, in this time and place, to teach the risks of a home loan? Can you imagine they’re not already doing it?
Read the 38 words of the bill and be inspired!
PERSONAL FINANCIAL LITERACY STANDARDS. Incorporate into the model academic standards for personal financial literacy a review of the different types of mortgages, the risks involved with each type of mortgage and the risks and causes of home foreclosure.
If I were a “personal financial literacy” instructor, I’d be pulling my hair out. What’s the legislature going to ask me to do next? Yeah… I suppose if just one foreclosure could have been avoided, it would all be worth it. Or whatever.
Geez. What am I missing here?
Jo Egelhoff, FoxPolitics.net
COMMENTS
What you're missing here, Jo, is that our government is filled with flim-flam men that either DIDN'T read the subject matter you cite, or chose to ignore it for their own ends. People like Barney Fraud and his friends keep enticing young boys (I couldn't resist the parody) to overextend themselves on mortgages.
And it's happening all over again. My girlfriend's son, all of 23 years old, is closing on a house on the 22nd of this month. No down payment; no equity, and plenty of credit cards. Tell me - what happens when he loses his job and the real estate market tanks again? And he's not the only such case I'm aware of. What do you think is happening in the inner cities - 'Obama gonna' pay ma' mortgage.'
In talking to people who should know, I'm told there will be another downturn in both residential and commercial real estate next year. Suddenly this young man's house will be worth less than his mortgage and he'll have no means to pay what he owes on it. Hello Sheriff's sale!
I have a simple solution, but it entails removing people from office in 2010 and 2012. I fear by that time, however, like a banana republic they'll have set aside our Constitution!
Duke (Wed Dec 09 08:21:14 2009)
Jo,
If you start pulling out your hair on this one you will be bald like me.
It is called teaching math and arithmetic. If you give a good basis in math, reading and economics a student will be able to make a good decision when they are old enough.
And Jo, when the kids get to the point in their life where they need to make such decisions, there are bankers and financial experts to teach them what they need to know, at the time they need to know it!
You can talk to students about foreclosures until you are blue in the face. When students will learn about them is when they face buying homes and doing the research.
I am all for back to basics.
Buy a new TV. The clerk will ask you if you would like to buy an extended warranty. A person with a good academic background will be able to read recommendations, and talk to friends about if the warranty is a good investment.
Jo, Lets go back to the good old McGuffey Readers.
Lets give our students a good, solid academic education. Line by line, precept upon precept.
David (Wed Dec 09 08:33:06 2009)
Hi Jo!
As a home schooling father of four, I love this document. Thanks for bringing it to my attention. I can use it to help my wife set objectives and make out lesson plans.
I also teach Junior Achievement (JA) in our public schools. Several of the JA curriculum cover these very topics so JA will become more of a supplement for the students in the future, rather than a primary source.
My lament over this document is that, more and more, the public schools are being asked to be the parents of these kids: not just the teachers. Only when mothers and fathers turn their hearts back toward their children, turn off (or toss out) the boob tube, and dedicate themselves to training up their children with wisdom and righteousness... Only then will expectations upon the schools become, once again, practical and achievable.
Thanks
Paul (Wed Dec 09 09:44:20 2009)
Hear, hear - all of you guys!!
Jo (Wed Dec 09 11:18:44 2009)
Jo,
When I graduated from high school (1974) credit cards had only been around for about 18 years (kids couldn't get them),homes really did require 20 percent or more down payment and most consumer purchases were cash or layaway if you didn't have the cash immediately. Well, things have certainly changed and we have decided as a country that credit for all is good for our 70% consumer expenditure driven economy. So who will teach the kids the pitfalls of poor financial decisions? The parents? Yes, it should be the parents. But I doubt that most well meaning parents have the absolute knowledge or ability to effectively teach their own kids in this regard. Isn't it millions of parents that succumbed to the temptations of easy credit and bad mortgages? As much as I'd like to see the schools just concentrate on reading, writing and 'rithmatic the world is a heck of a lot more complicated then when I was in high school. The schools will be tasked with more and more non-academic duties to keep up with it all.
dave allen (Wed Dec 09 16:29:47 2009)
Dave, you're letting parents off the hook way too easily. Enough of abdicating to the schools. Yes, the schools and parents must teach our kids to know how to learn, to seek out answers. But all of us in this day and age must know how to learn for ourselves from the media all around us as well as friends, family and neighbors. Enough already with adding increasing responsibilities to our schools.
Jo (Wed Dec 09 19:07:29 2009)
Jo,
I'm not letting parents off the hook. Yes, let's train the parents so they can train the kids. But the facts remain that many parents are incapable of teaching their kids certain things because they don't know themselves or are not good communicators or lazy or whatever. We cannot let the cycle repeat its self and if the schools get to the kids maybe the kids can teach the parents. You tell me. How would you make sure the parents teach their own kids? Or would you take the position that if the parents don't do it then no one should.
dave allen (Wed Dec 09 21:20:55 2009)
First and foremost, let's hold parents accountable. We agree. Absolutely critical. Then let's hold neighbors and friends and church and community and country accountable. Yes, at times, it takes a village...
Jo (Thu Dec 10 03:12:55 2009)
Jo, I agree with you 100%! Isn't that amazing. Now, what would be the first step you'd take to make parents accountable for giving their kids accurate and timely consumer financial education?
dave allen (Thu Dec 10 07:13:49 2009)
Let's simply begin with an expectation that parents are a child's main influence, that the upbringing of a child is one's parents' responsibility. Let's move from there to agree to the expectation that one's family, church and neighbors are also support groups when a parent needs help. Consider the early years of our country - even the early years of the 20th century; these supports were all that a family had. Can we remove the expectation that the government is always close at hand to pick up any pieces at a moment's notice?
Jo (Thu Dec 10 09:35:35 2009)
Jo,
I agree with your thoughts on this. So, what's the first step? An ad campaign touting personal responsibility that counters the "buy it now" commercials on TV, radio and print? Then, how is the effectiveness measured both in terms or awareness of the responsibility and the accuracy of the parent's responses?
dave allen (Fri Dec 11 07:01:49 2009)
My son took a class in eighth grade that did stock investing over a period of time. They bought and sold mock stocks and looked at the money they made or lost, and compared it to other groups in their class and their successes or failures, but never disected the market, calculated return on investment, compared their returns to other companies in their sectors etc. In the end they only looked at the money made or lost. No calculations on return on investment, or comping stocks against rental properties, home ownership, cd's, checking accounts, credit cards, savings accounts etc. It was a weak curriculum at best. The kids just played around with buying and selling, and that was the focus. The title might be covered in the handbook but the meat is missing in the classroom on this entire topic. Most kids think that if they get a credit card they've really accomplished something great. Just understanding the difference between an investment and an expense would be a great. Robert Kiyosaki has a fantastic series, Rich dad poor dad, Rich kid poor kid, etc.
This board game that I have played with my kids is fantastic to show kids the difference between expenses and investments (www.cashflowgame101.com). I encourage anyone looking to educate your kids and even adults play this game. I did this with a group of boy scouts at my home and the parents played along side their kids and I could see that some parents had a struggle with some of the choices to make. I'm in, what is next to move this forward in our community.
Mike (Fri Dec 11 11:13:38 2009)
|
|
Blog Archives
| 2010 |
  December
|
November
|
October
|
September
|
August
|
July
|
June
|
May
|
April
|
March
|
February
|
January
• Solberg: Healing After an Abortion
• Basketball fans eyeing extension of Miller Park sales tax
• Nanny sex-ed bill goes to Doyle
• A first. Village limits pension contribution for employees
• Nanny State update: Toothbrushing mandated
• Obama pushes education inflation
• WI Investment Board votes to borrow to juice up returns
• So Republicans have brought nothing to the table?
• You have got to be kidding me
• Nygren: Governor Continues Terms of Failure in State of the State
• Sen. Fitzgerald: Governor down the wrong track at high speed
• Phosphorus is the new CO2. $Billions in Wisconsin
• More Obama giveaways
• A reprimand? Would you keep him on the job?
• Burri: Sarah Palin for Prez troubles me
• Quote of the Day – Obama after the pie-eating contest
• Populism, abused and trampled
• Fitzgerald: Senate Republicans Propose Real Job Creation Agenda
• Stripped down health insurance – it’s about time
• Ok GOP, scrap the Party of NO; time to lead
• No way Feingold is a Coakley. Is Wall a Brown?
• Burri: Conservatives off the chart for a RINO?
• Paltry quid pro quo?
• Doyle says ARRA has ‘created or retained’ 44,000 WI jobs
• Does most of the public fall for this stuff?
• When you get signatures, always get a couple extra
• Blame it on the outmoded computers
• Scott Brown victory does not scuttle health bill
• 8th Congressional Candidate Forum, Jan. 25
• Scott Walker Meet-and-greet, Monday, Jan. 18
• Aren’t consumers taxpayers too?
• MORE taxes on investment income - dreadful and wrong
• Join the blaze orange army and say ‘Enough is Enough’
• The future of government-run health care
• Tax on banks is a really bad idea
• Roth, Savard on the stump, grassroots style
• Savard speaking in Appleton, 8 PM, Wed., Jan. 13.
• Rahmlow: Savard, Bies frontrunners for State Senate
• Burri: Failing Political Correctness 101
• School contracts and Race to the Top
• Senator Feingold worrisome and big red flags
• Psephological?
• This is really important. Contact Rep. Kagen. Now. Please.
• This is exactly what we need from Governor Doyle
• This guy is my hero
• Why am I not surprised?
• Talk health reform with Feingold (Th), Petri (today)
• Give the Mayor power over MPS - if he can break contracts
• Burri: Yup, Dems really are going to bypass a conference
• The $2.7 billion Wisconsin deficit no one told you about
• Walker launches county accountability website
• Rahmlow: Why is Van Hollen dodging the Nebraska deal?
|
| 2009 |
December
|
November
|
October
• The Lawton-Bader files
• Yup, it’s the TAX LEVY, not the tax RATE
• Ellis: costly automobile insurance laws must be rolled back
• If not Barrett, who?
• The subsidy game
• Burri: Bailouts, Banks, Health Care, and the Mob
• Attend Appleton Schools budget meeting tonight
• A public option WON’T increase costs? That’s delusional!
• Appleton Schools budget meeting Monday
• Wisconsin should be screaming for accountability
• Burri: If anything, we need more obstructionism around here
• WI on the leading edge - in the wrong direction
• Rep. Montgomery: Utility Customers Join State’s Crime-Fighting Efforts
• Public Conservation and Recreation Lands Total 16.5% of State
• In the crow's nest of the Titanic, shouting 'Iceberg!'
• Is Rep. Nelson a political hack?
• Health care: The road ahead will be brutal
• Kagen's pandering again
• Birthers - good stuff for you
• How much do we bend over backward for seniors?
• The trouble with health care is paying for it
• Two-parent families: The Gold Standard
• Burri: Kids... the joys and blessings
• Very, very worried about health care
• Rep. Huebsch: Wisconsin is proof government health care isn’t the answer
• School district contracts push up tax levy
• What? Obama, the Peace Prize?
• TODAY - hearing on Campaign Finance Reform
• Appleton School District tax levy up way too much
• CBO report is out - and the bill isn't even written yet?
• So, how much do YOU budget for health care?
• Burri: Copenhagen trip was amateurish
• “Sotomayor, you have blood on your hands...”
• Cap and Trade. Always follow the money
• Rep. Kagen gets (almost) free health services
• I actually agree with Rep. Kagen
• Future Wisconsin Conference for Conservatives, October 10, Wauwatosa
|
September
|
August
|
July
|
June
|
May
|
April
|
March
|
February
|
January
|
| 2008 |
December
|
November
|
October
|
September
|
August
|
July
|
June
|
May
|
April
|
March
• Important votes Tuesday, including Appleton Common Council
• Democrats are becoming supply siders??
• Further debunking Hillary myths
• WEAC has created an unsustainable monopoly
• From Mark Gundrum: One of the greatest honors an American can experience
• 'Operation Chaos' working?
• Joe Martin the best candidate in Appleton's 8th
• State programs to cut? - Volume II
• Oh the naivete of youth
• Not just disingenuous - flat wrong
• Steve - you will be missed
• Make cuts only AFTER you're elected....
• Getting serious: What programs can we cut?
• Rep. Steve Kagen joining me on Jerry Bader Show today
• Rep. Van Roy: Dental Care Pilot Program
• Has Dave Obey turned the corner on earmarks?
• Speaker Huebsch: Governor turns down Federal Aid?
• Mark Rahmlow: "We're Broke."
• As taxpayers, how do we know if it's a Chevy or a Lexus?
• This is trash talk - about a veteran
• Frank Lasee: Take time to get the Compact right
• 'The Gableman Ad' - is it racist?
• Roth thankful, Kagen shaking money tree
• Gov. Doyle's office not enamored with Freedom of Information
• Governor Doyle will never do it
• Leadership on smoking ban? Not Hanna
• Rep. Van Roy speaks out about smear ads
• You're threatening me about potholes?
• Losing the Hastert seat is NOT a trend and NOT curtians for the GOP
• First suggestion for 'slashing' programs
• Big money-saver for municipalities
• More one time fixes. Nuts.
• Any chances???
• I'm doing the Jerry Bader Show, today, the 11th
• Representative Frank Lasee: Final Waltz of the Season
• Guest Blog: It's not the county's business to be in the nursing home business
• Yup, Hillary won Texas and Ohio
• Gableman/Butler race featured - and it isn't pretty
• Lies from Planned Parenthood and NARAL
• He who sacrifices liberty.....
• Duh.
• The Troha sentencing, Doyle and that $200K
• Guns, passion and "originality"
• How hard is it anyway, to shut down a government program?
• Voting is a PRIVILEGE. And so are property taxes....
• Guest Blog: Governor Doyle, cancel your Ireland trip
|
February
|
January
|
| 2007 |
December
|
November
|
October
|
September
|
August
|
July
|
June
|
May
|
April
|
March
|
February
|
January
• Lots of ideas. No money.
• The Cigarette Tax - "Poor Policy Instrument?"
• School budget Lite?
• Frankenstein - not in the library, but in the legislature
• A librarian, a legislator, a president
• $1.25/pack - NO, NO, NO, and NO
• Kagen and Reagan in the same breath?
• Menasha: behind the 8-ball, but not biting the dust
• Any way you slice it, Wisconsin government wants (further) in on health care
• The World is Flat...what about health care?
• The PAC - too precious to fail. Day 3
• News follow-ups: Appleton West, Kagen at the White House
• Fox Cities PAC - too precious to fail - Day 2
• Fox Cities PAC - too precious to fail
• New Transit Tax coming your way
• Rep. Petri has his finger in the dike - I guess
• AASD Retirement Costs Burdensome
• Health care, health care, health care, health care
• Water rate increase was no slam dunk
• Education for all is just a bad dream
• New Year's resolutions from a parade snob
|
| 2006 |
December
|
November
|
October
|
September
|
| 2000 |
May
|
|
