Political Quotes

“This editorial says that this should be an eye opener. This should be an awakening for Congress and for our government. We saw Corinthian go down, another for-profit school. Do you know how much that cost the taxpayers? Over $1 billion. Now, don't believe for a minute that the CEO of Corinthian or even the CEO of ITT Tech is sending any money back to the Treasury. No way. They are off with their millions of dollars--which, as presidents, they took out of these bogus universities--living a pretty sweet life. They got the money, the school went down the drain, and the students are left holding the bag with the taxpayers. We could lose over $1 billion on Corinthian. Sadly, ITT Tech could turn into another billion-dollar baby. Which one of these for-profit schools is going to fail next? One they are looking at closely is called Bridgepoint. Bridgepoint is based out of California, but they did something very interesting. Senator Tom Harkin of Iowa had a hearing and told the story of Bridgepoint. Bridgepoint, a for-profit school, bought a Franciscan college in Iowa--a small Catholic girls' college that was going out of business--and they created something called Ashford University. They said: Our campus is in Iowa. This is where we are going to do business. It turned out it was a fraud on the public. It was the showcase for another for-profit school. Listen to this. Tom Harkin's investigation found Ashford University had 1 faculty member for every 500 students.…”