Black Agenda Report
Black Agenda Report
News, commentary and analysis from the black left.

  • Home
  • Africa
  • African America
  • Education
  • Environment
  • International
  • Media and Culture
  • Political Economy
  • Radio
  • US Politics
  • War and Empire

Obama and the Charter School Sugar Daddies
02 Jun 2010
🖨️ Print Article

A Black Agenda Radio commentary by Glen Ford

As hedge funds spin their financial webs to spur charter school expansion and President Obama bullies states to lift caps on charters, "right-wing foundations are attempting to swallow whole the entire school district of Washington, DC." For a $65 million donation, the Wal-Mart family and other fat cats demand DC schools drop union rules - and threaten to take back the money if the voters change administrations.

Obama and the Charter School Sugar Daddies

A Black Agenda Radio commentary by Glen Ford

"Hedge funds and bankers have become the Sugar Daddies of charter schools."

When it comes to the public schools, the Obama administration is allied with the most rapacious sectors of Wall Street and far-right foundations. That political reality is most evident in  the administration's campaign to establish a parallel national network of charter schools, with a heavy emphasis on inner cities. Obama and his education chief, Arne Duncan, have spent their first year and a half in office coercing states to expand charters or lose out on more than $4 billion in federal education money. Obama's allies on Wall Street invest heavily in charter schools, tapping into the public money stream to build their own vision of corporate education.

Historically, Wall Street is to Democrats what Big Oil is to Republicans. Hedge funds and bankers have become the Sugar Daddies of charter schools, using their clout with big city Democrats to give charters every advantage over conventional public schools.

Wall Street finds charters especially attractive, since bankers and hedge funds can exercise extraordinary influence on the schools while the public pays most of the tab. And profiteers have found numerous ways to turn charter schools into cash cows, where taxpayers finance private contracts over which the public has no control. Charter schools are a low-risk, fast buck dream, tailor-made for corporate exploitation and political manipulation.

RIch foundations have banded together to amass a mountain of money to ensure that charter schools have sources of funds that most public schools lack, plus a steady income from the taxpayers.

"If the voters get rid of Mayor Fenty, they can kiss the fat cats' money goodbye."

Rightwing foundations have become so emboldened in their privatizing campaigns, they are attempting to swallow whole the entire school district of Washington, DC.  Four foundations, led by the Wal-Mart owners' Walton Family Foundation, have offered DC almost $65 million to help fund the public schools - with plenty of strings attached. In addition to dropping important seniority system protections for teachers, the foundations demand that the city and school administration remain intact, or they'll take their money back.  That means, if Adrian Fenty, the corporatist Black mayor of DC, fails to win re-election this year, or his union-hating schools chancellor Michelle Rhee, loses her job, the Walton Family and the rest of the foundations think they can pick up their millions and leave DC to find some other way of paying for the schools.

This is blatant rule of the rich, an oligarchy of extortion by the worst elements of the ruling class - all under the guise of helping inner city school kids.

When you think of it, $65 million is a cheap price to pay for the foundations to control, not only the DC public schools, but the entire political process of the nation's capital city. If the voters get rid of Mayor Fenty, they can kiss the fat cats' money goodbye.

Actually, that's no more outrageous than President Obama making states jump through charter school hoops to get a piece of his $4 billion "Race to the Top" prize.  Obama is also a bully and an extortionist, in league with the Wal-Mart family's foundation and the bankers and hedge funds on Wall Street.

For Black Agenda Radio, I'm Glen Ford. On the web, go to www.BlackAgendaReport.com.

BAR executive editor Glen Ford can be contacted at Glen.Ford@BlackAgendaReport.com.



Your browser does not support the audio element.

listen
http://traffic.libsyn.com/blackagendareport/20100602_gf_PubSchools.mp3

More Stories


  • Why And How to End the War in Ukraine
    Jacqueline Luqman
    Why And How to End the War in Ukraine
    22 Feb 2023
    Jacqueline Luqman was a panelist on the February 16, 2023 webinar Why and How to End the War in Ukraine, which was sponsored by Chicago Area Peace Action. These were her remarks.
  • Why the Russian Federation Recognized the Independence Movements in the Donbas
    ​​​​​​​ Ajamu Baraka, BAR editor and columnist
    Why the Russian Federation Recognized the Independence Movements in the Donbas
    22 Feb 2023
    Ajamu Baraka argued that the Ukrainian crisis was a “manufactured crisis” primarily created by the miscalculations of policy-makers in the U.S. and Western Europe who were blinded by the prospect of…
  • From Crisis to Catastrophe? What is To Be Done in Eastern Europe
    Dr. Gerald Horne
    From Crisis to Catastrophe? What is To Be Done in Eastern Europe
    22 Feb 2023
    According to Dr. Gerald Horne, greed and shortsightedness convinced the U.S. that it could achieve the strategic objectives of undermining German economic power by controlling the European market,…
  • The Truth About Abraham Lincoln: In His Own Words
    Richard S. Dunn
    The Truth About Abraham Lincoln: In His Own Words
    22 Feb 2023
    February is the designated month to honor presidents, but Black people should know better than to believe what they are told about any benevolence on the part of George Washington, Abraham…
  • Interview with Eritrean President Isaias Afwerki – Part I
    Ministry of Information Eritrea
    Interview with Eritrean President Isaias Afwerki – Part I
    22 Feb 2023
    The president of Eritrea gives a wide ranging interview on the U.S. regime change effort against neighboring nation Ethiopia using the TPLF, and long-standing U.S. hostility towards his country.
  • Load More
Subscribe
connect with us
about us
contact us