THE DAILY BLADE: The Definition of Chutzpah: Part IX
Not content that the immigration laws her mother flouted will be ignored by our government so she can continue to live here “without papers,” the cheeky little anchor child who seemingly put first lady Michelle Obama on the spot during a visit to New Hampshire Estates Elementary School now wants to visit the White House. That's some whopping sense of entitlement for a seven-year old. But then it's been nurtured and reinforced by the adults in her life from her mother - who felt entitled to take up residence in the U.S. illegally - all the way up to the president - who feels entitled to pick and choose what laws will be enforced, and upon whom they will be enforced. Given that her family has a history of inviting themselves over and outstaying their welcome, next thing you know this second-grader will want to move into the White House - and to bring her mother, aunts, uncles and cousins with her, too.
Editorial Note: The Associated Press received an E-mail statement from Department of Homeland Security spokesperson Matt Chandler that Immigration and Customs Enforcement "prioritizes criminal aliens who pose a threat to our communities." If only this were true.
The Stiletto Scoops The Atlanta Federal Reserve
Ordinarily, The Stiletto resists anything that smacks of a nanny state. But frankly, public schools do a lousy job of teaching the basic mathematical skills one needs for daily life (second item) – in particular, how to understand percentages and statistics. It's not elitist to assume that the average American does not understand the risk and complexity of mortgage loans and financial instruments. ...
But we don't need a new government agency to determine which Americans are too unsophisticated or poorly educated to understand their obligations under the mortgages they seek - the loan officer needs to ask the applicant just one question and wait 30 seconds for the answer (counting on one’s fingers is permitted; using a pencil and paper or a calculator is not):
A department store is running a one day sale. Another 25 percent will be taken off the price at the register on a $275 suit (or dress) that was previously marked 40 percent off. Before the sales tax is added to the bill, how much will the suit (or dress) cost?
- "Sometimes, Nanny Knows Best," The Stiletto Blog, July 13, 2009
The Atlanta Federal Reserve has recently released a paper that shows that the numerical skill of homeowners has a meaningful impact on the rate at which they fell behind on mortgage payments. ...
The Atlanta Fed has managed to show that homeowners that are better at these math skills tend to also be better at managing household finances. In and of itself, it’s a hardly surprising finding. However, it also goes to show that basic numeracy offers some ability to predict the outcome of subprime homeowners, much like other factors generally used to judge creditworthiness, such as income and credit scores. Maybe loan officers should start including a math test in their assessments.
- "Were Bad Math Skills Behind The Housing Bubble?," The Christian Science Monitor, May 16, 2010
In Memoriam
Martin Gardner, October 21, 1914 - May 22, 2010
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