>> IS CRYPTO THE NEW WORD FOR PONZI?

MORE ON THE CLOSING OF CAZENOVIA COLLEGE.

AND IOWA AND NEW HAMPSHIRE GET DEMOTED.

STAY TUNED, IVORY TOWER IS NEXT.

GOOD EVENING AND WELCOME TO IVORY TOWER.

I'M DAVID CHANATRY FROM UTICA UNIVERSITY.

I'M JOINED THIS WEEK BY CHAD SPARBER FROM COLGATE UNIVERSITY, TY SEIDULE FROM HAMILTON COLLEGE, SARAH PRALLE FROM SYRACUSE UNIVERSITY, AND RICK FENNER FROM UTICA UNIVERSITY.

SAM BANKMAN-FRIED IS SITTING IN A JAIL CELL IN THE BAHAMAS, AWAITING EXTRADITION TO THE U.S. TO FACE NUMEROUS CRIMINAL CHARGES.

THE NEW CEO OF HIS CRYPTO CURRENCY-EXCHANGE FTX WAS ON CAPITOL HILL THIS WEEK, TELLING A HOUSE COMMITTEE FTX EXECUTIVES ENGAGED IN "OLD FASHIONED EMBEZZLEMENT."

MOST INVESTORS, HE SAID, WILL NOT GET THEIR MONEY BACK.

I'M HAVING A HARD TIME WRAPPING MY HEAD AROUND THIS SCANDAL, BECAUSE I DON'T REALLY "GET" CRYPTO, BUT I DO KNOW WHAT A PONZI SCHEME IS.

IS THAT WHAT WE HAVE HERE?

>> GOOD QUESTION.

SO FIRST I WOULD SAY THAT THIS IS NOT REALLY ABOUT CRYPTOCURRENCY.

THIS IS ABOUT A CRIP CRYPTOCURRENCY EXCHANGE.

AN ANALOGY NAGL TO HELP UNDERSTANDING THAT IS TO THINK ABOUT E TRADE AND YOUR LOCAL BANK.

WITH E TRADE YOU GO ONLINE AND BUY AND SELL STOCK AND ONCER YOU OWN IT, YOU OWN IT AND HELD AT E TRADE.

BUT AT A BANK WHEN YOU DEPOSIT MONEY, IT'S NOT GOING INTO A VAULT AND STAYING THERE.

IT'S BEING LENT OUT TO OTHER PEOPLE AND SO FORTH.

AND IF YOU WATCHED ITS A WONDERFUL LIFE, IT'S THEORETICALLY POSSIBLE FOR A BANK RUN, EVERYBODY PULLING OFF THEIR MONEY AT ONCE AND COLLAPSING.

SO ONE OF FTX'S CENTRAL PROBLEMS AS I BELIEVE IT, IT WAS PRETENDING TO BE LIKE E TRADE BUT WAS BEHAVING MORE LIKE A BANK AND A VERY, VERY BAD ONE, SENDING MONEY TO ALL THESE DIFFERENT BAD PLACES AND SO WHEREAS PEOPLE THOUGHT THEY OWNED BITCOIN, TURNS OUT THEY HAD DEPOSITS THAT ULTIMATELY WERE WORTH NOTHING AND THEY WAKE UP AND THEIR MONEY IS GONE.

>> YOU MENTIONED A BANK BUT A BANK IS CLOSELY REGULATED.

>> NOT ONLY CLOSELY REGULATED BUT THE DEPOSITS ARE GUARANTEED AND SO THERE IS A LACK OF UNSENTIVE NOW FOR PEOPLE TO START THESE BANK RUNS.

THE OTHER THING THAT IS INTERESTING.

NOT JUST BITCOIN, FTC IS THE CRYPTOCOIN THAT FTX PUTS OUT AND THIS ENDED UP NOT ONLY CREATING THE PROBLEM BUT THERE IS A SISTER COMPANY THAT WAS RUN, AL LEAD ARESEARCH WHICH WAS A HEDGE FUND AND BASICALLY WHAT WAS HAPPENING HERE, JOHN RAY, THE NOW C.E.O.

OF FTX WHO HELPED WITH THE UNWINDING OF THE ENRON SCANDAL, HE SAID THERE WAS A CIRCULATION OF FUNDS AND ASSETS BETWEEN THE TWO COMPANIES WHICH KEPT PUMPING UP THE PRICE AND MAKING IT LOOK LIKE THERE WERE THESE ASSETS THAT WERE ASTRONOMICAL, AND IT CREATED-- WHEN THE PRICE OF FTT AND I'M SORRY IF I'M GETTING INTO THE WEEDS-- FELL, THIS IS WHEN THE HOUSE OF CARDS STARTED TO CRUMBLE.

>> SO SARAH, THIS ALL SORT OF SOUNDS FAKE TO ME.

>> YEAH, WELL, TWO POINTS.

I MEAN I THINK IT REMIND ME A LITTLE BIT OF ELIZABETH HOLMES CASE AS WELL.

IN BOTH CASES YOU HAVE YOUNG INEXPERIENCED AND EXTREMELY AMBITIOUS AND CONFIDENT PEOPLE AT THE HELM WHO WANT TO DO GOOD AND MAKE LOTS OF MONEY.

THEY HAD VERY POWERFUL STORIES, THEY COURTED CELEBRITIES AND POLITICIANS.

THEY WERE BOTH REALLY ANTI-REGULATION AT THE END OF THE DAY.

AND, YOU KNOW, THEIR RESPECTIVE HOUSE OF CARDS FELL QUITE SPECTACULARLY.

ELIZABETH HOLMES FACING 11 YEARS IN PRISON FOR DEFRAUDING INVESTORS.

THE FALLOUT I THINK FROM FTX IS GOING TO BE BIGGER BECAUSE THESE ARE NOT JUST WEALTHY INVESTORS LOSING MONEY BUT MILLIONS OF REGULAR PEOPLE WHO INVESTED IN CRYPTO.

SO I THINK YOU KNOW, THERE IS SUFT JUST SOME INTERESTING PARALLELS HERE.

>> YOU SAID THEY WANT TO DO GOOD WHICH BRINGS UP THE IDEA OF EFFECTIVE ALTRUISM.

>> IT TURNS OUT GOING BROKE ISN'T THAT EFFECTIVE.

I DO THINK THIS IS A SPECULATIVE BUBBLE MEETING CRIMINAL FRAUD MEETING GAR GANTTIAN INCOMPETENCE.

AND WHEN YOU PUT THESE THREE THINGS TOGETHER, YOU DON'T GET ANYTHING EFFECTIVE AT ALL.

I INCREASED MY CRYPTOEXPOSURE 100% AND I'M STILL AT 0.

SO I DON'T GET IT BUT I THINK IT'S INTERESTING TO THINK HOW THIS AFFECTED THE WIDER ECONOMY.

NOT AT ALL.

SO THIS WHOLE BUBBLE HAS NOT AFFECTED THE ENTIRE ECONOMY AT ALL.

>> NOT-- YOU DON'T SEE ANY RIPPLE EFFECTS?

>> I MEAN THEY HAVE HAD TWO MASSIVE CRASHES IN CRYPTOOVER THE LAST YEAR AND HOW HAS THAT AFFECTED ANYTHING?

>> CERTAINLY THERE ARE INDIVIDUAL INVESTORS WHO HAVE MONEY IN THIS AND WE WERE JUST SPEAKING BEFORE WE WENT ON AIR, A LOT OF YOUNGER PEEP, TOO, WHO HAVE PUT A LOT OF ASSETS INTO THIS.

>> ONE IN FIVE ADULTS IN THE UNITED STATES HAS DEALT WITH CRYPTOAT SOME LEVEL, MOSTLY YOUNG PEOPLE.

BUT GROWING AT 65 AND OLDER.

I WANT TO GIVE A WORD ON EFFECTIVE ALTRUISM THING BECAUSE I THINK IT'S UNFAIRLY WRAPPED UP INTO THE STORY.

EFFECTIVE ALTRUISM IS AN IDEA AS I UNDERSTAND IT STARTED BY THIS GUY WILLIAM MAGASCAL, HE SOUNDS LIKE AN ECONOMIST.

IN HIS HEART HE IS A UTILITARIAN WHO BELIEVES THINGS LIKE IF YOU WANT YOUR MONEY TO GO FAR, WHAT YOU NEED TO DO IS DON'T VOLUNTEER YOUR TIME, DON'T DONATE YOUR MONEY TO PBS OR YOUR ALMA MATER OR WHATEVER.

WHAT YOU SHOULD DO IS WORK REALLY HARD AND GIVE ALL MORE MONEY TO BUY MALARIA NETS BECAUSE IT'S A CHEAP AND COST EFFECTIVE WAY OF EXTENDING HUMAN LIFE ON THIS EARTH.

NOW HIS VIEWS ARE A LITTLE BIT EXTREME.

PLEASE DO CONTINUE TO SUPPORT ALMA MATERS AND PBS BUT THE IDEA IS INTERESTING.

HERE IS A BOOK I COULD PLUG FOR YOU.

HIS IDEAS ARE INTERESTING.

IT'S JUST UNFAIR THAT THIS HAS BEEN CAUGHT UP IN THE FTX SCANDAL BECAUSE SAM BANKMAN-FRIED WAS INTO THE IDEA.

>> WHAT ABOUT WITH THE SCANDAL, THERE IS A LOT 6 CELEBRITY ENDORSERS WHO HAVE BEEN OUT THERE SAYING THIS IS, BUY BITCOIN, ET CETERA.

ARE THEY IN TROUBLE?

>> SOME OF THEM ARE BEING SUED.

BUT I WANTED TO GO BACK TO TYE'S COMMENTS THAT WE HAVEN'T SEEN THING IN TIFF CONSEQUENCES-- THE NEGATIVE CONSEQUENCES OF TROUBLES IN THE CRYPTOCURRENCY AND I WOULD SAY NOT YET.

NOW THE PRICE OF BITCOIN, THE MOST COMMON AND MOST POPULAR CRYPTOCURRENCY IS AT 16 OR $17,000, WHICH MEANS THAT ANYBODY WHO HAS BOUGHT IT IN THE LAST YEAR AND A HALF OR SO HAS LOST MONEY.

THE EXPOSURE OF MANY LARGE COMPANIES IS STILL OUT THERE.

SO, YEAH, WE HAVEN'T SEEN THE MAJOR FALLOUT YET, BUT AGAIN, THIS COULD JUST BE THE TIP OF THE ICEBERG, I'M ATRADE.

AND IF IT DOES-- I AM AFRAID.

AND IF IT DOES FALL, SIMILAR TO 2007 AND 2008, YOU WILL SEE A LOT OF FINANCIAL INSTITUTIONS BECOME POSSIBLY INSOLVENT.

THIS IS NOT OVER YET.

>> AND THERE IS ANOTHER POINT ABOUT THE CRYPTOINDUSTRY MORE GENERALLY I THINK THAT NEEDS TO BE MENTIONED IS THE HUGE ENERGY CONSUMPTION.

IT IS A MAJOR CONTRIBUTOR TO OUR GREENHOUSE GAS EMISSIONS IN THIS COUNTRY, THE EQUIVALENT OF RUNNING EVERYONE'S HOME COMPUTER AND IT'S KIND OF FOR NOTHING.

THEY DON'T REALLY PRODUCE ANYTHING.

SO AND THEIR SHARE OF THE ELECTRIC USAGE IN THE U.S. IS GOING UP.

AND SO I THINK THAT THAT IS AN IMPORTANT ISSUE GOING FORWARD IF THIS INDUSTRY CONTINUES TO GROW.

>> IN NEW YORK STATE, IN PARTICULAR, THERE IS A BIG PLANT IN THE FINGER LAKES AREA.

>> ONE OTHER THING IF I COULD QUICKLY... >> GO RIGHT AHEAD.

>> WHAT IS AMAZING, THERE IS NOTHING REALLY INTRINSICALLY BEHIND BIT BITCOIN.

PEOPLE FORGET THAT UNTIL THE 1970 DZ, WE DIDN'T TRUST THE UNITED STATES CURRENCY.

IT WAS BACKED BY GOLD.

IF YOU HAD A DOLLAR, YOU COULD TURN IN THAT DOLLAR FOR GOLD.

FINALLY IN THE 1970s, WE SAID ALL RIGHT, THE U.S. HAS BEEN AROUND LONG ENOUGH, THE GOVERNMENT IS STABLE ENOUGH.

WE'LL TRUST THE CURRENCY IS WORTH SOMETHING BUT FROM THE VERY START, PEOPLE WERE READY TO PUT THEIR ENTIRE FAITH IN BITCOIN AND WE DON'T KNOW HOW IT STARTED.

>> THAT'S AN UNFAIR CHARACTERIZATION BECAUSE THERE IS NOTHING BEHIND THE DOLLAR EITHER.

THE APPEAL OF CRYPTO IS THAT THERE IS A LIMIT TO HOW MUCH OF IT WITHIN BITCOIN, A LIMIT OF HOW MUCH YOU CAN MINE SO THAT'S WHY IT APPEALS TO A CERTAIN KIND OF PERSON.

>> >> LET'S MOVE ON THE SHORT CONVERSATION WE HAD ON THE PROGRAM LAST WEEK ABOUT CAZENOVIA COLLEGE CLOSING WAS FOLLOWED BY A SPIRITED EMAIL EXCHANGE AMONG THE PANELISTS.

IT WAS SPURRED BY A LETTER FROM VIEWER ROB FREDERICKS, A RETIRED SCIENCE TEACHER IN CAZENOVIA, WHO WONDERED IF THE CAMPUS COULD BE USED TO TRAIN WORKFORCE THAT WILL BE NEEDED WITH THE NEW MICRON CHIP PLANT.

SO LET'S CONSIDER THAT SUGGESTION AND ALSO GO A LITTLE DEEPER INTO SOME OF WHAT AILS HIGHER ED THESE DAYS.

RICK, YOUR INITIAL REACTION TO THE SUGGESTION?

>> ROB SUGGESTED THAT PERHAPS ANOTHER COLLEGE TAKE OVER THE SITE.

I THINK THE ISSUE HERE IS THAT WE MIGHT HAVE TOO MUCH CAPACITY IN HIGHER ED GIVEN THE NUMBER OF ISSUES THAT ARE GOING ON.

AND FIRST I THINK WE NEED TO BE CAREFUL ABOUT USING THE TERM HIGHER EDUCATION BECAUSE JUST IF YOU LOOK AT THE INSTITUTIONS THAT ARE REPRESENTED ON "IVORY TOWER," THEY RANGE FROM COMMUNITY COLLEGES UP TO, YOU KNOW, UTICA UNIVERSITY, A SMALL TO MEDIUM SIZED PRIVATE, TO ELITE LIBERAL ARTS INSTITUTIONS AND THEY'RE NOT ALL TREATED THE SAME OR BEING AFFECTED THE SAME.

I THINK WHAT WE'VE SEEN ARE SOME NATIONAL TRENDS THAT NEGATIVELY AFFECTED CAZENOVIA IN TERMS OF THE NUMBER OF HIGH SCHOOL STUDENTS THAT ARE GRADUATING AND IT'S EVEN HIGHER HERE.

THE FALLOFF IS HIGHER IN THE NORTHEAST.

THEN YOU HAVE THE DECISION BY NEW YORK STATE TO TRY TO PROVIDE FREE EDUCATION TO STUDENTS AND FAMILIES UP TO $125,000 OR SO.

YOU HAD THE PANDEMIC AND THEN THE STRONG LABOR MARKET.

AND FINALLY, THERE WERE A NUMBER OF DECISIONS AT THAT TIME CAZENOVIA MADE OR DIDN'T MAKE THAT ALSO AFFECTED THEM; FOR INSTANCE, NOT GOING INTO GRADUATE EDUCATION OR ONLINE EDUCATION.

>> SO THERE IS A LOT HERE TO CHEW OVER.

YOU MENTIONED ALL THOSE COLLEGES.

YOU DIDN'T SAY A MAJOR D-1... >> I NOTICED THAT.

[LAUGHTER] >> SO CARE RA-- SO SARAH, RICK RAN US THROUGH A LITANY OF PROBLEMS THAT WE FACE, BUT WE ALL FACE THEM DIFFERENTLY, I GUESS.

THAT'S USING A DIFFERENT BOAT.

>> I THINK THE BIGGER PICTURE HERE IS THAT WE DON'T WANT TO OVERSTATE THE PROBLEM OF COLLEGE CLOSURES.

I LOOKED AT SOME DATA AND SINCE 2004, THERE HAVE BEEN ABOUT 860 COLLEGES OR UNIVERSITIES THAT HAVE SHUT DOWN.

BUT 80% OF THOSE WERE FOR-PROFIT INSTITUTIONS.

AND HONESTLY I THINK THAT'S A GOOD THING.

FOR-PROFIT INSTITUTIONS DO NOT SERVE STUDENTS WELL.

THEY TEND TO GRADUATE WITH LARGE AMOUNTS OF DEBT.

OFTEN TIMES WITH A DEGREE THAT'S WORTHLESS OR NEVER FINISHED.

AND SO THAT'S A GOOD THING.

SINCE 2016, NEW YORK STATE HAS ONLY SEEN SEVEN CLOSURES OF COLLEGES OR UNIVERSITIES.

AND SOME OF THOSE CASES, NEIGHBORING SCHOOLS SORT OF TOOK OVER THE OPERATIONS AND THE CAMPUSES.

SO WHILE I DO THINK IT IS A PROBLEM, YOU KNOW, COLLEGES AND UNIVERSITIES OR SOME OF OUR MOST LONG LASTING INSTITUTIONS AND THEY WEATHER A LOT OF ECONOMIC STORMS.

THAT SAID, FOR SMALL TOWNS AND CITIES THAT ARE DEPENDENT ON THEM, THOSE CLOSURES HAVE REALLY REAL ECONOMIC CONSEQUENCES BECAUSE THEY'RE OFTEN THE COLLEGES ARE OFTEN ECONOMIC ENGINES FOR THOSE PLACES.

>> I WANT TO PUSH BACK ON THIS A LITTLE BIT AND HOPEFULLY SENSITIVELY.

THE QUESTION IS NOT WHY CAZ FAIL, IT'S WHY DIDN'T IT FAIL SOONER BECAUSE I THINK LIBERAL ARTS COLLEGES NATIONWIDE ARE IN TROUBLE WITH THE EXCEPTION OF THOSE THAT HAVE VERY LARGE ENDOWMENTS OR THOSE THAT HAVE VERY STRONG IDENTITIES LIKE CATHOLIC SCHOOLS, FOR EXAMPLE.

FORBES ANNUALLY PUBLISHES THE FINANCIAL HEALTH OF 900 COLLEGES AND UNIVERSITIES, PRIVATE COLLEGES IN THE U.S. AND ITS 2021 LIST, THE LAST ONE TO INCLUDE ONLY PRE-COVID DATA, IT RANKED CAZ AT 857 WITH A GRADE OF D IN TERMS OF FINANCIAL HEALTH.

I RAISE THAT NOT TO KICK DIRT IN THEIR FACE BUT TO REALLY EMPHASIZE THAT THERE ARE OTHER LOCAL SCHOOLS HERE THAT ARE IN TROUBLE.

FORBES PUT HARTWICK AND UTICA AND CLARKSON, ELMIRA ALL BELOW AVERAGE IN TERMS OF ITS FINANCIAL HEALTH.

AND SO I THINK THERE IS CAUSE TO BE CONCERN THAT CAZ IS JUST THE FIRST OF MULTIPLE SCHOOLS THAT COULD END UP CLOSING.

>> CHAD JUST MENTIONED LIBERAL ARTS COLLEGES.

AND, OF COURSE, TYE, YOU ARE AT A GREAT LIBERAL ARTS COLLEGE.

>> OF WHICH YOU ARE A GRADUATE OF >> THAT'S RIGHT.

AND THE SKILLS THAT THOSE STUDENTS PICK UP ARE SKILLS WHICH ARE TRANSFERABLE WHICH WILL WORK IN ALL SORTS OF INDUSTRIES, SO WHY ARE LIBERAL ARTS UNDER THIS CLOUD RIGHT NOW?

>> WOULD I SAY HAMILTON IS NOT.

WE HAVE-- OUR ENDOWMENT IS GREAT.

WE HAVE 11% ACCEPTANCE RIGHT NOW, THE BEST WE HAVE EVER HAD.

SO IN OUR SCHOOLS, THEY'RE DOING GREAT.

IT'S NOT AS THOUGH ALL LIBERAL ARTS ARE DOING POORLY.

PEOPLE WANT A RESIDENTIAL LIBERAL ARTS COLLEGE AND THEY'RE FLOCKING TO THEM.

THE PROBLEM IS THAT THERE IS SO MUCH COMPETITION AND THAT'S A GOOD THING.

WE HAVE THE GREATEST HIGHER ED SYSTEM IN THE WORLD.

EVERYBODY WANTS TO COME TO A COLLEGE IN THE U.S., WHETHER A COMMUNITY COLLEGE OR R-1 RESEARCH INSTITUTION, YOU CAN DO THAT IN THE U.S.

BUT THE COMPETITION MEANS THAT WITH DEMOGRAPHIC DECLINE, ESPECIALLY IN CENTRAL NEW YORK, IT MEANS NOT EVERYBODY IS GOING TO MAKE IT.

AND THAT'S TERRIBLE.

AND IT'S TERRIBLE FOR CAZENOVIA BUT IT ALSO MEANS THAT BECAUSE THAT COMPETITION, WE ARE LOOKING AT AMHERST AND WILLIAMS, HAD HOW CAN WE DIFFERENTIATE.

SYRACUSE IS DOING THE SAME THING, COLGATE IS LOOKING AT THEIR COMPETITORS SAYING HOW CAN WE DIFFERENTIATE.

AND THAT COMPETITION IS UNLIKE ANYTHING ELSE IN THE WORLD AND ONE OF THE REASONS WHY WE HAVE THE GREATEST SYSTEM.

>> THERE IS ALSO, YOU KNOW, AND I THINK PEOPLE NEED TO KNOW, SELF INTEREST HERE.

I'M UTICA UNIVERSITY AS CHAD MENTIONED AS ONE OF THE ONES THAT IS FACING SOME ECONOMIC PROBLEMS.

ONE OF OUR MAIN COMPETITORS IS THE STATE OF NEW YORK.

AND STATES LIKE MASSACHUSETTS, NEW YORK AND PENNSYLVANIA HAVE A LONG HISTORY OF MEDIUM SIZED PRIVATES EDUCATING A FAIR NUMBER OF-- CONFERRING A FAIR NUMBER OF GRADUATE PROGRAM DEGREES, UNDERGRADUATE DEGREES AND STARTING WITH MARIO CUOMO, ACTUALLY, HE STARTED FLOATING THIS IDEA OF FREE EDUCATION AT STATE UNIVERSITIES.

THEY HAVE THE POTENTIAL TO PUT MANY OF THE MEDIUM-SIZED PRIVATES WITH SMALLER ENDOWMENTS OUT OF BUSINESS IF THEY WANT TO.

SO PART OF THIS IS A POLICY DECISION AT THE STATE LEVEL.

>> CALIFORNIA IS THE OPPOSITE; WHICH STARTED OUT FREE AND THEY DON'T HAVE THAT MANY AND NOW THEY'RE CHARGING MUCH MORE.

SO, YOU KNOW, EACH STATE HAS GOT A DIFFERENT WAY OF DOING THAT.

BUT IT'S HARD TO SAY FREE EDUCATION IS A BAD THING.

>> HOLD ON, CHAD.

>> SARAH.

>> I WANTED TO BRING UP THE TOPIC OF HISTORICALLY BLACK COLLEGES AND UNIVERSITIES BECAUSE THEY'RE ENDOWMENTS TEND TO BE ON AVERAGE HALF OF WHAT OTHER SCHOOLS ARE AND THEY'RE SUCH AN IMPORTANT EMERGENCY FOR BLACK AMERICANS TO MOVE INTO MIDDLE-CLASS AND PROFESSIONAL JOBS.

AND SO I THINK, YOU KNOW, SCHOOLS THAT HAVE LARGE ENDOWMENTS ARE PROTECTED A LOT FROM SOME OF THE UPS AND DOWNS AND I THINK THAT THEY'RE A SPECIAL CASE THAT WE NEED TO PAY ATTENTION TO.

PRESIDENT BIDEN HAS TRIED TO GIVE THEM SOME EXTRA MONEY.

BUT I THINK THAT THAT IS IMPORTANT TO NOTE.

>> AND TO TYE'S POINT, LIBERAL ARTS MODEL IS FANTASTIC BUT ALSO VERY EXPENSIVE AND THEN TO YOUR POINT SARAH, ON THE ENDOWMENTS, BARBARA RAISED THE POINT WOMEN'S COLLEGES ENDOWMENTS ARE NOT AS LARGE BECAUSE WOMEN WERE DENIED... >> AND ONE MORE REASON WHY YOU SAID IT DIDN'T HAPPEN SOONER?

THE FEDERAL GOVERNMENT HELPED THE PANDEMIC AID REALLY HELPED BOOST SOME OF THESE COLLEGES UP.

SO NOW THAT THAT PANDEMIC AID IS NO LONGER BEING PROVIDED, I THINK WE MAY SEE MORE OF THOSE COLLEGES COME UNDER FISCAL STRESS.

>> NOW WE ARE GOING TO QUICKLY RUN THROUGH OUR THIRD TOPIC HERE.

WE ONLY HAVE A FEW MINUTES LEFT.

POLITICALLY, THE PRIMARIES, THE DAYS OF IOWA NEW HAMPSHIRE PLAYING OUTSIZED ROLES IN PRESIDENTIAL POLITICS MAY BE OVER AT PRESIDENT BIDEN'S URGING THE DEMOCRATS HAVE CHANGED THE ORDER OF STATE PRIMARIES.

INSTEAD OF IOWA FIRST AND NEW HAMPSHIRE RIGHT BEHIND, NOW IT LOOKS LIKE SOUTH CAROLINA.

WHAT DOES THAT TELL US?

WHAT DOES THAT MEAN?

>> WELL, I GREW UP IN A SMALL TOWN IN NEW HAMPSHIRE SO I HAVE A LITTLE BIT OF PERSONAL STAKE IN THIS AND IT WAS REALLY GREAT TO ACTUALLY HAVE THE OPPORTUNITY TO MEET CANDIDATES IN PERSON.

AND AT ONE BENEFIT OF NEW HAMPSHIRE IS THAT IT IS SMALL.

THE MEDIUM MARKETS ARE INEXPENSIVE RELATIVELY SPEAKING.

THAT SAID IT'S 93% WHITE AND DOES NOT REPRESENT THE COUNTRY AND MOVING THE FIRST PRIMARY TO A COUNTRY THAT IS MORE DIVERSE THAT REPRESENTS THE DEMOGRAPHICS OF THIS COUNTRY IS PROBABLY A GOOD IDEA.

>> I DON'T KNOW IF SOUTH CAROLINA REALLY REPRESENTS THE DEMOGRAPHICS OF THE COUNTRY EITHER.

>> IT DOESN'T BUT BOY DOES JOE BIDEN OWE JIM COMPLYBORN A LOT.

I WOULD RATHER SEE IT GO TO MICHIGAN OR WISCONSIN OR SOMEWHERE LIKE THAT BUT IN NEW HAMPSHIRE THERE IS A LAW ON THE BOOKS THAT SAYS THEY CAN MOVE THAT AHEAD OF WHEREVER THE FIRST ONE IS SO THE NEW HAMPSHIRE POLITICIANS HAVE TO DECIDE ARE WE GOING TO ALLOW THAT AND IF THEY DO IT FIRST, THEN THE DEMOCRATIC PARTY COULD NOT ALLOW THOSE DELEGATE TOSES COME.

SO THIS STORY IS NOT OVER YET.

>> OH BOY, WE COULD HAVE PRIMARIES A YEAR AHEAD OF TIME.

CHAD.

>> JUST ON THE REPUBLICAN SIDE, IF THE REPUBLICANS WERE TO CHANGE THE RULES AND MAKE TRUMP LOSE THE PRIMARIES, HE WOULD RUN AS A THIRD PARTY CANDIDATE AND TORNADO REPUBLICAN CHANCES.

>> SO THE POINT IS JUST LIKE THE DEMOCRATS ARE CHANGING THE ORDER, THE REPUBLICANS COULD, TOO, AND I KNOW THAT LUKE HAD SUGGESTED THAT MIGHT BE A WAY-- THAT WILL BE A TELL TALE SIGNAL AS TO WHAT... >> HE WOULD RUN THIRD PARTY GUARANTEEING DEMOCRATS FOUR MORE YEARS IN THE WHITE HOUSE.

GOOD LUCK ON CHANGING THE RULES THAT WAY.

>> I THINK THERE IS ALREADY A MOVE TO COMPROMISE-- I'VE HEARD NEVADA.

ONCE THE DEMOCRATS ONE DAY AND GEORGIA, YOU KNOW, REWARDING SOME OF THOSE BATTLE GROUND STATES THAT HAVE HELPED THE DEMOCRATS KEEP THE SENATE.

I THINK THIS THE MIGHT MAKE MORE SENSE THAN SOUTH CAROLINA.

>> AND I DON'T REALLY UNDERSTAND REWARDING.

WHAT DO THEY GET OUT OF IT OTHER THAN WE'RE FIRST?

>> WELL, IT'S USE USEFUL FOR THE DEMOCRATIC PARTY TO INVEST IN A SWING STATE BECAUSE YOU ARE GETTING THE CANDIDATES THERE, YOU ARE DRUMMING UP SUPPORT AND MOMENTUM AND EXCITEMENT SO IT'S REALLY IMPORTANT THAT THEY PICK A BUNCH OF SWING STATES.

>> THERE IS-- WE HAVE TO GO TO As AND Fs.

WE'LL LEAVE THAT THERE.

I WAS GOING TO SAY SOMETHING BRILLIANT RIGHT THEN.

WE ARE GOING TO GO WITH OUR Fs TO BEGIN WITH AND WE'LL START WITH CHAD YOUR F. >> MY OBVIOUS F IS THAT WAR IS BAD.

THIS IS CHRISTMAS SO I WANT TO SPIN THAT TO REMIND VIEWERS THAT WE HAVE A LOT OF REFUGEES LIVING IN OUR COMMUNITY AND IF YOU ARE INTERESTING IN SUPPORTING THEM, I RECOMMEND TWO LOCAL CHARITIES.

WE HAVE THE CENTER IN UTICA AND WE ALSO HAVE THE BRACT REFUGEE EDUCATION FUND FOUNDED BY TWO EMERITUS PROFESSORS FROM COLGATE.

IF YOU DONATE MAKE SURE TO WRITE IN YOUR UKRAINE OR LOCAL UKRAINIAN REFUGEES IN THE TRIBUTE LINE.

THAT WOULD BE EFFECTIVE ALTRUISM.

>> MY F GOES TO THE STATE OF ALABAMA WHICH PASS THE A LAW IN 2017 WHICH PREVENTS LOCAL COMMUNITIES FROM CHANGING THE NAMES OF ANYTHING THAT HONORS CONFEDERATES SO LAST MONTH, THE CITY OF MONTGOMERY CHANGED ROBERT E. LEE HIGH SCHOOL AND JEFF DAVIS HOSTAGES TO CIVIL RIGHTS LEADERS AND THE STATE OF ALABAMA FORCED THE CITY TO PAY $50,000 IN FINES TO ENSURE THE MAJORITY BLACK SCHOOLS NO LONGER REPRESENTED SOMEONE WHO CHOSE TREASON TO PRESERVE SLAVERY.

>> MY F GOES TO THE STATE OF LOUISIANA AND DEPARTMENTS OF CORRECTIONS FOR HOLDING INMATES IN PRISON AFTER THEIR LEGAL RELEASE DATES.

ANY GIVEN MONTH, 200 PRISONERS ARE HELD AN AVERAGE OF 44 ADDITIONAL DAYS BEYOND THEIR PRISON SENTENCE.

THE U.S.

ALREADY HAS A HIGH INCARCERATION RATE.

WE SHOULD NOT ADD TO THIS PROBLEM BY KEEPING PRISONERS BEYOND THEIR OFFICIAL RELEASE DATE.

>> AND RICK YOUR F. >> TO MARJORIE TAYLOR GREEN AT THE NEW YORK YOUNG REPUBLICAN GALA LAST WEEKEND SPEAKING ABOUT THE JANUARY 6 ATTACK ON THE CAPITOL SHE SAID "IF STEVE BANNON AND I WOULD HAVE ORGANIZED THAT, WE WOULD HAVE WON AND IT WOULD HAVE BEEN ARMED."

IN OTHER WORDS SHE IS BRAGGING SHE WOULD HAVE LED A SUCCESSFUL OVERTHROW OF THE U.S. GOVERNMENT.

>> NOW OUR As.

CHAD, TO YOU.

>> I DON'T SUPPORT MANY OF BIDEN'S ECONOMIC POLICIES BUT ONE I DO IS AN EXPANSION OF CHILD TAX CREDITS IN PART BECAUSE THAT'S AN EFFECTIVE WAY TO ALLEVIATE CHILD POVERTY.

THAT APPARENTLY IS BACK ON THE TABLE NOW POSSIBLY WITH DEMOCRATIC CONCESSIONS THAT MIGHT REQUIRE PARENTS TO WORK.

THE TIME IS SHORT TO GET THIS PASSED BUT IT'S IN THE NEWS.

I HOPE IT DOES.

>> AND YOUR A.

>> TO THE UNITED STATES POSTAL SERVICE IN PARTICULAR MY MAIL CARRIER GARY.

YOU PROBABLY KNOW YOUR MAIL CARRIER AND TODAY DURING THE SNOWSTORM I'M THANKFUL IN THIS HOLIDAY SEASON THAT THE U.S.

POSTAL SEASON IS THERE FOR US.

THEY'RE A SIGN OF A GREAT COUNTRY AND I LOVE THE POSTAL SERVICE.

>> OKAY, USPS.

SARAH, YOUR A.

>> SO MY A THIS WEEK GOES TO JANET AND JEFF CROUCH OF MARYLAND FOR REFUSING TO RIP UP THEIR NATIVE AND WILD PLANTS IN THEIR YARD AND REPLACE THEM WITH GRASS AFTER THEIR HOMEOWNERS ASSOCIATION ORDERED THEM TO.

THEY HAD CREATED A HABITAT FOR BIRDS AND INSECTS BUT THE HOMEOWNERS ASSOCIATION THOUGHT IT LOOKED MESSY AND THAT IT HURT PROPERTY VALUES.

THE COUPLE HAS FOUGHT BACK AND NOW THE STATE OF MARYLAND IS THE FIRST STATE IN THE COUNTRY TO ENACT A LAW THAT LIMITS HOMEOWNERS ASSOCIATIONS CONTROL OVER ECOFRIENDLY YARDS.

>> AND RICK YOUR A.

>> MY A GOES TO SYRACUSE MEN'S SOCCER TEAM.

THE ORANGE TOOK HOME THEIR FIRST NCAA SOCCER TITLE BEATING PERENNIAL POWER HOUSE INDIANA 7-6 IN A VERY EXCITING PENALTY KICK SHOOTOUT.

>> I WATCHED MORE OF THAT THAN I DID OF THE WORLD CUP.

AND CHAD, YOU MENTIONED THE CHILD TAX CREDIT AND OF COURSE THAT MAY BE WORKING ITS WAY BACK IN ON A FEDERAL LEVEL AND NEW YORK STATE, THERE HAS BEEN SOME NOISE ABOUT NEW YORK STATE TRYING TO ENACT AN ADDITIONAL CHILD TAX CREDIT.

OF COURSE ALL OF THAT COSTS MONEY, DOESN'T IT?

>> IT DOES.

BUT IT IS EFFECTIVE.

>> THANK YOU FOR JOINING US THIS EVENING.

FOR COMMENTS YOU CAN WRITE TO THE ADDRESS ON YOUR SCREEN.

IF YOU WOULD LIKE TO VIEW THE SHOW AGAIN YOU CAN VIEW IT ONLINE AT WCNY.ORG.

I'M DAVID CHANATRY, FOR ALL OF US AT IVORY TOWER, HAVE A GOOD NIGHT.