Thursday, March 3, 2011

Education Department Officials May Face Jail Time For Attempting To Undermine For-Profit Colleges Via The Stock Market

By Jonathan Strong
The Daily Caller
March 3, 2011

Oklahoma Republican Sen. Tom Coburn blasted the Education Department Wednesday for what he called “very significant inappropriate behavior in tipping hedge funds on short selling private education” and called on a key Senate panel to investigate the matter.

Coburn was referring to documents released last week by Citizens for Responsibility and Ethics in Washington (CREW), a watchdog group that has called for federal authorities to investigate market manipulation by famous Wall Street short-seller Steven Eisman.

Coburn said the charges even could result in jail time for Education Department officials.

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