May 26 -- a noted Wall Street short-seller, Steve Eisman, gave a speech criticizing certain public companies that are for-profit colleges and universities. Eisman is known for "shorting" stocks in public companies in the sub-prime industry before the collapse -- meaning he made tons of money when these companies' share values went down or virtually collapsed. For the uninitiated, at the risk of oversimplifying, you make money "shorting" stock by borrowing someone's stock at a certain share value and then, if the share values go down, repaying the loan at a lower amount, pocketing the difference. Eisman, in his May 26 speech before the Ira Sohn Research Conference in New York City, criticized some for-profit colleges and universities that are public companies (such as the Apollo Group, which owns the University of Phoenix, Corinthian College and Kaplan University (owned by The Washington Post).
Lanny Davis: Transparency By 'shorts' On 'for-profit' Schools Needed, Too
Lanny Davis, Huffington Post: Business
Wed, 06/23/2010 - 6:06pm
Topics: purple nation gotcha wall street steve ira sohn research conference new york city apollo group phoenix corinthian college kaplan university the washington education title iv stories congress similarly senate health labor pensions help committee sen tom harkin d-iowa private-sector parthenon group integrated education data system ipeds national governors association nga the u.s department education's national center education statistics nces nga duh june the hill the daily caller lanny j davis associates pllc president bill clinton president george w bush's privacy civil liberties oversight board scandal eisman york university in he washington post education education harkin u.s department mr davis transparency schools students colleges percent rates share values default four-year speech two-year stocks shorted attend compared short-seller loan stock money fraud dropped current member report graduate suggested full
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