Some may argue that the risk premium these banks are charging is too high, even accounting for the risk, but what are the chances they will suddenly see the light after this regulation is passed, and drop rates across the board?
Attorney Michael Rebell, who represents the parents, said he hoped the state would drop the penalty, especially in light of Cuomo's announcement this week that, to avoid further cuts, he would empower Education Commissioner John King to impose an evaluation system June 1 if the city and union don't agree on one by then.