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Thread: Education Department Rules on For-Profit Schools Created With Investor's Help

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    Education Department Rules on For-Profit Schools Created With Investor's Help

    Education Department Rules on For-Profit Schools Created With Investor's Help

    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 Melanie Sloan of a liberal-leaning ethics watchdog called Citizens For Responsibility and Ethics in Washington.
    But a former Clinton official said if the shoe were on the other foot, Democrats would have a fit, and for good reason. "If it was a Republican administration that were doing this, the Democrats would be on the floor of the Congress in the House and Senate screaming bloody outrage."

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    Re: Education Department Rules on For-Profit Schools Created With Investor's Help

    If true, sorry to hear that. This type of thing has always been a problem. I would support efforts to prevent this type of thing.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Education Department Rules on For-Profit Schools Created With Investor's Help

    As a rule of thumb, whenever "investors" are making money by betting that companies fail there is something unspeakably wrong with the system.

    I wouldn't have a problem with this if the man doing the "advising" were profiting from the regulations because they helped his holdings succeed.

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    Re: Education Department Rules on For-Profit Schools Created With Investor's Help

    Quote Originally Posted by Viktyr Korimir View Post
    As a rule of thumb, whenever "investors" are making money by betting that companies fail there is something unspeakably wrong with the system.

    I wouldn't have a problem with this if the man doing the "advising" were profiting from the regulations because they helped his holdings succeed.
    That would make a difference. I'd still pause, but I wouldn't be as disturbed.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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