First it was Goldman Sachs – now it’s the Education Management Corporation.

1 post / 0 new

A former executive turned whistle-blower revealed widespread abuse at the Education Management Corporation – the nation’s second largest for-profit college corporation. According to the whistle-blower lawsuit – the company is “motivated by profit rather than student success or rankings,” and routinely engaged in predatory lending, pushing loans on students the company knew couldn't afford them.

It’s basically the same sort of predatory lending that inflated the housing bubble. And with outstanding student loans nearing one trillion dollars – the student loan bubble may be the next to burst. Here’s the kicker – Education Management Corporation is partially owned by Goldman Sachs. Fool me once, shame on you – fool me twice, then it’s time to crack down on the Wall Street crooks.

Thom Hartmann Administrator's picture
Thom Hartmann A...
Joined:
Dec. 29, 2009 10:59 am

Latest Headlines

Who rejected United States-North Korea peace talks?

There were conflicting reports on Sunday regarding a recent proposal for United States-North Korea peace talks which was allegedly made before North Korea"s recent nuclear test

U.K. Pound Falls As Markets Get Brexit Jitters

Bloomberg said on Monday the pound had sustained its biggest fall against the dollar in 11 months

Clinton: I'll defend Israel but push for 'two-state solution

Hillary Clinton believes both Republican candidates Donald Trump and Ted Cruz "missed the mark" with their approach to the Israel-Palestinian Arab conflict

How Can the GOP Run American Government If They Hate It?

The coal country state of West Virginia is in the middle of a special legislative session to deal with a $270 million budget shortfall, and it's setting the stage for Republicans to completely gut the state's government.

It's the same playbook we've seen the right-wing carry out in Wisconsin, in Kansas, in Michigan, and in Ohio.

Powered by Pressflow, an open source content management system