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...
Dec. 29, 2009 9:59 am

Latest Headlines

Obama to veto legislation on refugee screening

President Barack Obama would veto a Republican bill introduced in the wake of the Paris attacks to toughen the screening process for Syrian refugees

New York officials: No credible ISIS threat against city

There is no credible threat to New York City at this time, officials said

China denies torturing political prisoners

A Chinese delegation denied mistreatement of prisoners held in police stations and deaths in custody

Republicans try to derail Paris Climate Summit.

This week, leaders from around the world are meeting in Paris to work out the future of global climate action.

But, while our President is overseas trying to come up with climate solutions, Republicans back in the states are undermining him at every turn. And, their typical obstruction could pose a threat to the entire Paris summit.

Powered by Drupal, an open source content management system