Friday, April 29, 2011

DOE manipulated by stock market speculators?

What place does all this have in educating our young people?

From the Chronicle of Higher Education:
Reports of Inspector-General Probe Cheer Education Department’s Critics

April 28, 2011, 3:05 pm

A day after more than 100 members of Congress wrote to President Obama, urging him to order the Education Department to halt its work on finalizing a controversial “gainful employment” regulation, critics of the rule were further cheered by unattributed reports by The Daily Caller and Dow Jones Newswires asserting that an investigation by the department’s inspector general was focusing on whether the department had been unduly influenced by ”short seller” investors, who stood to profit from declines in for-profit companies’ stock prices. Neither the inspector general nor the department would comment, and it could not be verified if the reports were accurate or if the scope of the reported investigation—sought by several members of Congress—would be much narrower. In a March appearance before a House of Representatives committee, Education Secretary Arne Duncan, facing questions about the accusations, said his agency had asked the inspector general to conduct “a thorough investigation.”

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