And It's A Big Win For the For-Profits Who Are Great Friends With Obama, Pelosi, And Others

Note: If you found this on a site that is aggregating my work, please do not read my content there. That is theft of my work, and illegal.

Here is yet another example of how our system is broken, and how politicians on both sides of the aisle have been bought off by this pernicious industry (and it's just one of many industries that have done so). It is worth mentioning, however, that Senator Harkin (D-IA) is one of the few who stood up for students and questioned the for-profits. As a result, he received threats from someone within the for-profit industry.

Eric Lichtblau's article in the NYT illustrates how the for-profits won a big victory at the expense of low-income students, soldiers, and taxpayers. But hey . . . c'est la vie in D.C., right? This is precisely why it is critical that we - the 99% - join, support, and help OWS. It is our only hope for solving this systemic problem. Those on the Hill won't do it for us. Harkin is, as I said, one of the few who is invested in solving the problem, but none of the offices are willing to take on the student lending crisis entirely. That is why more and more people are joining the ranks of the indentured educated class. That is also why OWS is growing each day. Don't be fooled when you hear that the camps have been closed down. That's was only phase I. OWS is moving on to phase II.

Since I have spent the majority of  my time in D.C. and have developed relationships with people on the Hill and elsewhere (and face-to-face), I have met a lot of the individuals who are waging this battle with all of us. I appreciate that they are on our side. Sadly, I know of several who have left this arena, and I can't blame them. I suspect they left because of how overwhelmed they felt when facing these powerful thugs. We are, at this juncture, fighting an uphill battle.

Here's a snippet from the piece.

NYT article by Eric Lichtblau

With Lobbying Blitz, For-Profit Colleges Diluted New Rules

WASHINGTON — Last year, the Obama administration vowed to stop for-profit colleges from luring students with false promises. In an opening volley that shook the $30 billion industry, officials proposed new restrictions to cut off the huge flow of federal aid to unfit programs.

 But after a ferocious response that administration officials called one of the most intense they had seen, the Education Department produced a much-weakened final plan that almost certainly will have far less impact as it goes into effect next year.

The story of how the for-profit colleges survived the threat of a major federal crackdown offers a case study in Washington power brokering. Rattled by the administration’s tough talk, the colleges spent more than $16 million on an all-star list of prominent figures, particularly Democrats with close ties to the White House [my emphasis], to plot strategy, mend their battered image and plead their case. 

Read the article in its entirety here. 

Mr. Lichtblau listed a number of all-star figures, and I'll go ahead and list my favorite ones as well. Here are a few of the players who are committed to making money off of stealing the hope of others. They are, like the student lenders, thieves of hope. The spin on 'gainful employment' is galling to say the least.

- Anita Dunn (who is a very good friend to Obama) - Dunn worked for the White House and for Kaplan University. Woohoo! We all know that Kaplan NEVER screws over students or the people who work for them!

- The Democratic Lobbyists - Richard Gephardt, John Breaux, and - my own personal favorite - Tony Podesta

- The shameless Donald Graham. Adhering to "journalistic integrity," Graham is the chief executive of the previously respected newspaper, The Washington Post. The Post owns Kaplan, so when the paper writers about student loan debt issues, I am sure is never a conflict of interest and the stories are surely straightforward when it comes to discussing for-profits, the student lending industry, etc.

Those are just a few worth mentioning. You can read about the rest of 'em in Lichtblau's article.

So, great job! The Administration, Arne Duncan, and the for-profits have done a superb job of screwing more students in the future. These students tend to be the most vulnerable too, so that warms my heart even more. Here's that change we all voted for, right?!?

Related Links

"From the Best to the Worst: For-Profits Are An Ivy-League Created Scam," AEM (August 31, 2011) 

to go to a for-profit . . . I am helping fund the most pernicious, rip-off schools around . . . so go now! Go to a lousy for-profit school!