Episode Transcript
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Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
The Trump administration super excellent. Love it, Love it what
they're doing here. They're calling it the Compact for Academic
Excellence in Higher Education. It was just leaked. I like
it a lot. Now we all know what has happened
to colleges and universities over the past let's say, i'd
(00:42):
say generation or two thirty years plus, slowly but surely
getting worse instead of better when it comes to intellectual conformity. Yeah,
basically you're all a bunch of leftists pretty much pretty
(01:05):
much what has happened. And again, the Trump administration is
using federal dollars or lack thereof being able to take
them away, to force schools to follow law, not so
much follow law, but do a better job. Now the
(01:27):
leftists out there are gonna yell and they're gonna scream,
and they're gonna say Trump is doing ah, he's breaking
this is can't do this, this is unprecedented, wrong, wrong,
the Obama and Biden administrations from the journal today use
federal funds to coerce schools to follow their cultural agenda
(01:49):
on race, gender, and handling sexual harassment allegations, uh, the
latter railroad of the innocent. The main difference between the
Biden and Trump efforts is that Biden officials were pushing
an open campus door with school officials who agreed with them.
Trump officials want to change a culture that is hostile
(02:14):
to American principles. Now, basically this again they're calling the
Compact for Academic Excellence in Higher Education offers schools preferential
funding if they follow certain rules. Schools that agree to
meet the Trump benchmarks would be eligible for multiple positive benefits.
(02:37):
I don't know what they are, but multiple positive benefits
and substantial and meaningful federal grants. Now, some of the
rules here, Universities in the Compact must end the use
of race or gender preferences in hiring or admission on campus. Yeah,
(03:00):
it's the law actually that they're supposed to do that anywhere,
embracing so called institutional neutrality, so schools don't take sides
in social and political issues unrelated to the university. Professors
(03:20):
can opine in their private capacity. But the History department
can't dictate a certain view of let's say the Arab
Israel conflict. The memo encourages Now why again, this is
what we should want, A vibrant marketplace of ideas. Again,
(03:45):
you can't. You can beat that drum over and over
and over again. That would be fantastic. Many schools are
making effort to address progressive monoculture, including some of the
far left leaning faculty rosters. Universe See Texas created a
School of Civic Leadership Vanderbilt. They've hosted events to emphasize
(04:06):
a return to free speech principles Trump but they backed
off in regards to dictating the faculty hiring. They're going
to allow that the schools, but I'm sure they're going
to keep an eye on this. One of the things
that they put in there. I don't know how they're
they could push this. They want schools to freeze tuition
(04:30):
for the next five years. I also want to cap
the enrollment of international students at fifteen percent. Again, I
don't know where that number comes from. Again, you're talking
about kids that pay full freight. And again, let's understand
that colleges and universities are like I said, they're hedge funds.
Their businesses, their businesses, and they're trying to make as
(04:54):
much money as possible. Yeah, they've got nonprofit status, but
their businesses freezing touition. Well again, I've explained this before
when it comes to college education. We talked about subsidies
last week on the program. Anytime you subsidize anything, the
price is going to go up. Uh you want the
(05:15):
price of colleges and universities to come down, that's it
closing down. No more student loans, no more suit loans.
You know you do as well. Let the old private
sector will fill that void. Okay, sure, but guess what
kid takes out a student loan, he can discharge it
in bankruptcy. See how see how eager banks are going
(05:39):
to be to make student loans. Nobody's gonna be able
to afford to go to school. No bullshit. Okay, sorry, sorry,
you know I listen. Okay, I just did not too
long ago, a couple of years ago, past few years,
college tours at my kids recruiting trips here, there and everywhere.
(05:59):
I've seen some of these dorms in some of these schools.
They're like damn Westons for crying out loud. All right,
you can make some cutbacks here and there. Oh, I
got an idea. Why not get rid of all of
the useless administrators that you have that serve no purpose. Yeah,
you find ways to bring your cost down. Again, let
(06:23):
them price their product because they're again they're a business
based upon what people can afford to pay. But I
definitely think a step in the right direction as far
as reform is concerned, wouldn't be nice. Nice. You know,
if you're a conservative on campus, you're not going to
get shouted down within a classroom and people will say, hey, geez,
(06:43):
we're going to listen to your ideas. Have a conversation again,
discourse getting people to talk to one another. Watchdog on
Wall Street dot Com