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ITT Educational Services Inc. Message Board

  • dalojekech1234 dalojekech1234 Jan 20, 2011 9:09 PM Flag

    Not Insanity Heads Buried in Sand

    Davis and Sloan have frequently assailed statements made by Eisman, the Wall Street short seller who famously bet against the subprime mortgage market and has since turned his attention to what he portrays as predatory recruitment and financial practices by for-profit colleges. At industry conferences and in testimony before the Senate, Eisman has excoriated the for-profit sector for vacuuming up federal student aid, leaving students with excessive debt burdens.

    In a speech made at an investment conference last May, Eisman likened for-profit colleges to subprime mortgage lenders.

    "Are we going to do this all over again?" he asked. "We just loaded up one generation of Americans with mortgage debt they can't afford to pay back. Are we going to load up a new generation with student loan debt they can never afford to pay back?"

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