Assault on trade schools directed by Wall Streeter

[Guest guest]

A while back there was a story about the government moving against for profit trade schools. Now it seems a hedge fund manager had influenced members of the Department of Education for his own profit. http://www.foxnews.com/politics/2011/05 ... tors-help/

Quote:

A proposed regulation from the Education Department threatens to devastate for-profit career or trade schools, but one thing is even more controversial than the regulation -- how it was crafted. Education Department officials were encouraged and advised about the content of the regulation by a man who stood to make millions if it were issued. "Wall Street investors were manipulating the regulatory process and Department of Education officials were letting them," charged Sloan of a liberal-leaning ethics watchdog called Citizens For Responsibility and Ethics in Washington.

End Quote

This is probably true. Until white collar criminals are seriously punished instead of getting slaps on the wrist, country club prisons and bailouts, this will keep happening and only get worse. Of course, the bureaucrats need to be punished as well. On a related note, Obama just appointed Bryson to head the Commerce Department. Bryson has been helping shift hundreds of millions of dollars to build Chinese factories which will take over work from the US. In addition he is well invested in "green" companies located in the US, some of which are the kind that will get government contracts or other favoritism under coming regulations. An example is his investment in an LED lightbulb company and solar panel companies.

[Guest guest]

" A while back there was a story about the government moving against for profit

trade schools. "

They are mostly worthless anyway. There are only so many places in regular

colleges and universities. If you do not hold the credentials, you cannot get

in. If you don't have the credit to finance your education, you don't get in.

These for-profit trade schools will taken anyone, and give them what look like

good financing which, long term, are bad deals. If you cannot see that this

financing is going to ruin you, you ought not to be seeking such an education in

the first place. Finally, no place that I ever worked accepted anyone with an

education from one of these schools.

So people are essentially getting high priced worthless degrees which they

cannot do anything with.

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