Dr. Dahn Shaulis, a professor in New Jersey has been waging an implacable war on the for-profit, cancer debt colleges. His struggle is not in isolation. More and more people can see that the drive-by, predatory colleges run for profit are not even worthy of the name ‘diploma’ mills; they are worse, they are criminal syndicates that live off of tax payer largess while their CEO’s make fortunes and the students are hurled into debt servitude for the rest of their lives.
These schools also reflect the sad state of privatized education, a $650 billion dollar enterprise within America Inc. Not only do these privatized schools like charters and educational management chains steal federal dollars, they break the law in the case of for-profit colleges using recruits like the military does, to herd students into their wanton factories of despair.
I have spent over five years writing about the scourge that is education today. From the billionaires who clothe themselves as philanthropist while they use their largesse to leverage the privatization of education to the for-profit colleges that trade on Wall St. and unfortunately, as Dahn has pointed out before, they make up many of the funds held in state teacher retirement systems throughout the US.
Time and time again we see students going into life-long debt servitude as the financial aid offices of these syndicates, really the ‘cage’ for the criminal schools, force loans on students and take their share of the booty right off the top.
As to education, there is no education at these schools. Try as they may the paltry sum paid for resources, teachers, materials and other educational benefits is lower than the advertising budget for the ‘schools’. Students are privatized selves in these schools, sitting online in isolation to get the vaulted ‘degree’ so they can make money and not end up in low paying jobs. The fact is these schools do not teach, they take and most of their units are not even transferable to most public colleges. Rightly so, the credits are known as counterfeit money in the educational world of business. Yet privatization and a Department of Education are devoted to assuring that Wall St. get is share of the new educational industry and this is why they enable these dungeons.
One of the worst players in this whole sordid mess is Richard Blum. Blum is the husband of Senator Diane Feinstein, of California — together, they are Bonnie and Clyde. Dahn will allow you to see below what Blum is up to and has been. But Senators having spouses who profited handsomely off of the for-profit predatory colleges is not unusual.
As I wrote back in 2012 for Truthout, ex-Senator from Maine, Olympia Snowe resigned from politics but she never told the truth as to why. But we know. Seems her husband was the CEO of Educational Management Corporation, that is now being sued for over $30 billion (http://truth-out.org/index.php?option=com_k2&view=item&id=8589&Itemid=228).
Anyway, here is Dahn in his own words speaking of parasite Richard Blum and his role and ties to ‘education’.
To whom is may concern,
I sent an inquiry to Blum Capital in mid-December 2013. I received a reply stating that “Your inquiry has been passed to the appropriate person.’ I am still waiting for a response.
What I am particularly interested in learning about is the history of Blum Capital’s stake in for-profit colleges such as ITT Tech (ESI) and Career Education Corporation (CECO). I know that one small article has been written about it (about three years ago). With the partial collapse of for-profit higher education in the US, I need this information to better understand the system. Thank you in advance for your reply.
Dahn Shaulis, Ph.D.
Bonnie and Clyde
On Tue, Dec 17, 2013 at 8:32 PM, Blum Capital <firstname.lastname@example.org> wrote:
Dear Dahn Shaulis,
Thank you for contacting Blum Capital Partners. Your inquiry has been passed to the appropriate person.
Blum Capital Partners, LP
How much money has Richard Blum made off the backs of working class people through his investments in for-profit predatory higher educators? How many people have been trapped in debt peonage because of unscrupulous political and economic insiders like Richard Blum? Why has the media avoided this story?
What we do know, as part of the public record, is that Richard Blum’s fund, Blum Capital Partners, has owned significant shares in ITT Tech (ESI) and Career Education (CECO).
We also know he is a California Regent, and was once the Chair of that body.
We also know that he is Dianne Feinstein’s husband.
The information about Richard Blum’s questionable practices is getting out into pop culture. Check out this link (text below)
From: Ana M. Fores Tamayo, adjunct professor
Oh I just have to say how amazing this man Richard C. Blum is. AMAZING….
Let me first start out by saying how smart he is. He was a UC Regent you guys…A UC REGENT! I mean it’s not like they get appointed or anything, so I guess that means he has some brains.
Additionally, he has to be smart because this is the go-to-guy for knowledge on insider trading. He knows everything and I mean EVERYTHING on insider trading. You see you guys; this guy owns schools like ITT Tech. So cool, right??? So in order to get more money from tuition at ITT Tech (which let me remind you is a for profit school), he manipulates UC tuition hikes. PURE GENIUS! I wish I had thought of that idea, but damn….he’s just too smart and took it. So while he’s fucking over UC students, he’s getting a bunch of moolah from ITT Tech.
Oh and he was also able to manipulate UC bonds in order to get more profit for himself!! Remember now, UC’s are non-profit, so these bonds for the UC’s would have been used for scholarships, financial aid, etc. for students, but pssh….who ever wanted that stuff anyways? Instead, Blum gets to put it all in his pocket because the UC regent system let him!!! He is just too amazing, and he out smarted us all. You have to give this guy some respect ?
Just remember that the UC system portfolio has invested $53 million into Blum’s schools such as ITT Tech. YAY!!! Maybe if I’m nice enough he can buy me a Porshe….or a nice laptop….or possibly an education???
Unfortunately, two stars did have to be docked due to high UC tuition costs, but you know what….its okay!!! It’s not like Blum controls it anyway, so I forgive him.
And of course, Blum can also manipulate mass media. In the NY Times articles that have been coming out, they say we think “the sky is falling” around student debt, whereas this is completely exaggerated, as the Brookings Institute claims: http://www.nytimes.com/2014/06/24/upshot/the-reality-of-student-debt-is-different-from-the-cliches.html?_r=0.
And who funds Brookings? If Wikipedia has it that Blum and his wife are two of its largest funders, such is the common knowledge: they are using this “well-respected” institution to manipulate the public.
Obama signing worthless documents saying he wants to reduce student loans
And because this appears in the NYTimes — another well-respected source — most folks believe it.
Yep, Dahn, Blum is a smart fellow indeed.
So we all need to look beyond the word, and come together to fight this neoliberal take over.
Ana M. Fores Tamayo
Facebook Page: https://www.facebook.com/AdjunctJustice