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Investor Steve Eisman RAILS On For-Profit Colleges

Forprofit College

First Posted: 07/27/10 06:12 AM ET Updated: 05/25/11 05:35 PM ET

Mother Jones:

Steve Eisman, the outspoken investor whose huge wager against the subprime mortgage market was chronicled by author Michael Lewis in his bestselling book The Big Short, has set sights on a new target: for-profit colleges of the kind of you might see advertised on daytime TV and at bus stops. Think ITT Educational Services, Corinthian Colleges, or Education Management Corporation.

In a speech titled "Subprime Goes to College," delivered Wednesday at the Ira Sohn Investment Research Conference, Eisman blasted the for-profit education industry, likening these companies to the seamy mortgage brokers who peddled explosive subprime loans over the past two decades.

Read the whole story: Mother Jones

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Filed by Leah Finnegan  |