Learning the right lessons There's nothing wrong with profiting from education

The Economist:

"UNTIL recently, I thought that there would never again be an opportunity to be involved with an industry as socially destructive as the subprime mortgage industry," said Steve Eisman, a hedge-fund manager who made a lot of money during the financial crisis by shorting bank shares, to Congress in June. "I was wrong. The for-profit education industry has proven equal to the task."

America's for-profit colleges are under fire (see article), and the Obama administration is preparing tough new regulations for them. Although recent scandals suggest higher education needs to be better regulated, discriminating against the for-profit sector could do wider damage.

Posted by Jim Zellmer at September 12, 2010 1:01 AM
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