August 23, 2013 President Obama once again showed his perfidiousness when it comes to the issue of for-profit schools and higher education.  In response to a question at an event where Obama was appearing Friday night at Binghamton University in New York state, Obama said these criminal enterprises were “making out like a bandit” preying on veterans and other students, as well as taxpayers.  Of course he did not use the words “criminal enterprises”, those are my words and have been for four years since I have been writing about this sludge.

Obama, taking the mike in his usual mendacious manner, warned that if these for-profit colleges don’t start training students for careers, they face a cutoff of federal aid.  A stern warning from a weak president beholden to Wall St.

Training student for careers?  We train animals, we educate human beings.  Alas, under Obama and the watchful eyes of liberals, “training” has replaced education.  And training for what?  Jobs are disappearing faster than federal monies in envelopes to for-profit schools.  Robotization and off-shoring have left us with fewer jobs each year.

Sure, we have heard all this before.  Senate hearing after senate hearing along with the Department of Education’s feeble attempts to reign in the ‘rackets’ have failed.  And this is due to Obama’s support for the privatization of education AT ALL levels.

But the real issue is Wall Street and the part they play in loading up teacher union pension funds with these disaster school stocks.  For as I wrote at: ( teacher pension funds are loaded with hundreds of thousands of shares of for-profit college stock.  Do you really think that Wall St., Obama’s boss, will allow pension funds to crash?

David Halperin, a journalist for, stated in his article on August 24, 2013 regarding Obama’s ‘tough stand’ on for-profit predatory colleges:

“Officials across the government — from the Securities and Exchange Commission to the Consumer Financial Protection Bureau, the Federal Trade Commission to the Department of Education — should take a strong cue from this presidential statement and act forcefully to regulate for-profit colleges and crack down on abuses” (

I am sorry, David but you can’t regulate a criminal enterprise, as I wrote at ( back in 2010.  Education is a human right not a for-profit venture.  Do we regulate the mafia?  Sex slavery?  Of course not.

The answer to all this is to get federal monies out of the hands of all for-profit education and begin to invest in the public commons as we did after the New Deal.  Instead, under Obama and Clinton we shredded the social contract for education, cut social investment in schools and allowed a $650 million dollar industry to blossom and be owned by Wall Street.  Calls for more “crack downs” and “regulations” is little more than rancid liberalism and it is liberalism, through Obama and friends, that got us into this mess from the beginning.

Don’t be fooled!  In fact, if you want to see a great graphic that tells the story in few words about who owns education, see:

To see Obama’s real plan for higher education you can read the following articles below.  There, you will find what Obama is really trying to snake through the system as social policy and it is hardly regulation, crack downs or getting federal monies out of the hands of criminal for-profit colleges.  In fact, it is the opposite.

Part one:

Part two:

Part three: