Grassley Questions Education Agency's Ties To Hedge Funds

The New York Times:

Senator Charles E. Grassley is examining whether Education Department officials disclosed confidential government information to hedge fund managers, including the well-known stock picker Steve Eisman.

The inquiry stems from the agency's recent efforts to overhaul the for-profit college industry, which has been accused of saddling students with huge piles of debt. Expecting tough new rules in the wake of the controversy, Mr. Eisman and other hedge fund traders placed huge bets against the industry. In a letter this week, Mr. Grassley questioned the education secretary, Arne Duncan, about the agency's ties to the hedge fund world and the lack of policies restricting contact with Wall Street players.

Read the whole story: The New York Times

Comments

[YoungWarthog]

08:03 AM on 08/02/2011

Hedge funders are seriously looking to be involved in (translation: loot) public education. Charters, vouchers and other privatization schemes. They have many politicians on their side. They will do to our schools what they have been doing to America. Caution.

[sactoken]

11:59 AM on 07/31/2011

Hillary 2012

[teachone]

10:07 PM on 07/29/2011

Isn't that interesting?? Wallstreet and the Educational Industry now coming together to create more corruption and find a new avenue of victims to attach their barnacles to and parasite off of, students! These people make me sick!! Anyone involved in this should be FIRED and PUT IN JAIL!!!!!

[Cupik]

05:35 PM on 07/29/2011

Anyone watch the College, Inc. Frontline documentary? Sec. Duncan looked pretty
ineffectual. Like he didn't want to change the status quo. "We're working as hard as we can.......wah wah wah..."

[marine1942]

03:46 PM on 07/29/2011

Dept of Education is a failure---get rid of it !! Education levels are plunging. When you don't do well you don't deserve more taxpayer money. Can you spell USPS and that ever famous Fannie Mae ? Less government. Term limits, Balanced budget, controled spending--all go togather

[murfiani39]

09:05 PM on 07/29/2011

no get rid of sec duncan he does not know what he is doing. should never be in that position.

[SeptimusDSX]

12:49 AM on 07/30/2011

How will getting rid of the DoE improve things? Just throwing together a bunch of canned TV phrases is meaningless.

[SeptimusDSX]

03:32 PM on 07/29/2011

If this turns out to be true, then it confirms what most people believe...the education system has been totally corrupted by profiteers and their mouthpieces in the media. I wonder what Michelle Rhee has to say about this?

[murfiani39]

09:05 PM on 07/29/2011

she is part of the problem

[SeptimusDSX]

12:50 AM on 07/30/2011

I know, hence the question. ;)

[corwin]

10:21 AM on 07/30/2011

She'll probably point to the horrible results in big and small city public schools in areas /times that aren't related to this.
And,you'll continue to hunt for conspiracies to explain failings in your philosop[hical choices.
See/ it was so simple.

[Aesthete]

03:10 PM on 07/29/2011

I'm no conservative, but I've always admired Senator Grassley, a conservative Republican, for being thoughtful and seeking to do what is RIGHT, rather than simply being a slave to right-wing ideology.

[isis]

04:43 PM on 07/29/2011

I have suspicions about him. We got an un-forwarded right wing magazine at a house that was for the previous owner but junk mail and there he was in a photo at a Christian Homeschool conference. He was giving some presentation and pledging support from what I could tell. I don't see him as being a friend of public education. We also got Right to Life materials supporting him and repeating his tall tale about health care killing granny. He is not as thoughtful as he might appear IMHO.

[Cupik]

05:36 PM on 07/29/2011

Did you see him repeat over and over again the death panel crap? I sure did.

[murfiani39]

09:06 PM on 07/29/2011

the death panel is the tea baggers