Wall Street may be flailing but this week, many city teachers and principals are flush, thanks to bonuses based on the school progress reports.There also still seems to be enough cash left forVillage residents to open a new private high school and parents to apply in record-breaking numbers for spaces in Financial District private kindergarten. For some, spending money still looks like a good investimen; as there are more high school seniors in the United States than ever before, lots of families hiring expensive private college counselors to try to get an edge on the competition.

A teacher at the Bronx School of Law and Finance is using the volatile markets to teach economics lessons. Maybe she can explain how class size in more than half of city schools went up despite state aid to lower class size -- and the revelation that more teachers are receiving paychecks without being given a teaching assignment.

Despite Bloomberg’s "no social promotion" mandate, fewer students were held back this year. Summer school lessons, however, do not seem to be enough to help most students who failed during the regular school year make up the work and move to the next grade.

Charter schools, many of which received top gradesthis week, may face serious threats in the future, according one advocate. But for now, New York's charters hope to get alittle more help from the stateand a little less regulation.

Some of the school bus problems may be getting sorted out, but the affected students, many of whom have special needs, now have to settle into their school year routines… three weeks late. Several students with ADHD who attended an NYU summer program are adjusting well to school, however, which their parents credit to their structured summer.

Bloomberg responded to the Times editorial last weekthat suggested mayoral control of the schools might have a few more checks and balances. Naturally, the mayor disagreed. Several top Boston educators who have moved to New York might add to his case.

Education experts square off on Obama’s plan for the nations schools, and The Sun uncovered Klein’s education policy reading list.

While most of the education news this week circled around the Progress Report grades, when the Times discovered that the Chancellor also grades his own staffon how well they host a press conference, press secretary, David Cantor, was inspired to email the Gray Lady their own grade: “Value of the story: F.”