March 2, 2011

AN INSIDER TRADING SCANDAL AT THE DEPARTMENT OF EDUCATION? “Today Citizens for Responsibility and Ethics in Washington (CREW) sent letters to the Director of Enforcement for the Securities and Exchange Commission (SEC) and U.S. Department of Education Secretary Arne Duncan to share records CREW obtained through its Freedom of Information Act (FOIA) lawsuit against Education. These documents show high-level Education officials colluded with Wall Street short-sellers, improperly leaking the contents of highly controversial gainful employment regulations in advance of their publication.”

I’ve figured all along that the assault on for-profit education is mostly political — and maybe even an effort to keep the squeeze on the Washington Post via its Kaplan subsidiary so it won’t be too hard on the Administration — but I had no idea that there was money-grubbing involved too.