GOLDMAN SACHS/EDMC NEWS Tracker

 

SEN. OLYMPIA SNOWE VOTES “PRESENT” ON STUDENT LOAN BILL
GOP SEN. OLYMPIA SNOWE, NOT LIKED BY CONSERVATIVES, HUSBAND IS A FORMER GOLDMAN SACHS CEO AND BOARD MEMBER OF EDUCATION MANAGEMENT CORPORATION. GOLDMAN SACHS DIRECTLY OWNS 40% OF EDMC
BI-PARTISAN POLITICAL ELITE IMPLICATED IN FOR-PROFIT EDUCATION FRAUD
FOR PROFIT EDMC AND GOLDMAN SACHS RIPPING OFF VETERANS
GOLDMAN SACHS BUSTED FOR FRAUD
FLASHBACK 2009 GOLDMAN SACHS LETTER ADMITS PRACTICE OF “HUDDLING”
Goldman Sachs also controls the For-Profit education corporation EDMC
GOLDMAN SACHS A TOP CONTRIBUTOR TO OBAMA

DEVELOPING: EMBATTLED FOR-PROFIT GOLDMAN SACHS OWNED EDMC MAY HAVE “PAID OFF” THE CHRONICLE OF HIGHER ED
The Chronicle of Higher Education printed an article about EDMC last August and somehow has avoided the topic ever since. EDMC has been under investigation, as has Goldman Sachs for several types of fraud and abuse. Now we have learned that for some reason, EDMC owned schools have offered their employees subscriptions to the Chronicle. This means that EDMC had to buy a bulk subscription for it’s tens of thousands of employees. They certainly would not be subscribing to a periodical that paints them in a negative light.
HERE IS A RECENT ARTICLE ABOUT GOLDMAN SACHS/EDMC:
GOLDMAN SACHS WHISTLEBLOWER SAYS EDMC ENGAGES IN PREDATORY LENDING
GI BILL $: For Profit Colleges Lose Incentive To Target Vets Under Bills
GOLDMAN SACHS (EDMC) HIRES A MARINE GENERAL TO SELL THEIR SCHOOLS TO VETS
Iceland 1 Goldman Sachs 0
GOLDMAN SACHS CURRENCY SWAP INVESTIGATION FADES AWAY INTO THE ETHER
WIKILEAKS: GLOBAL INTEL FILES RELEASED
“The emails show that in 2011 Goldman Sach’s Morenz invested ‘substantially’ more than $4million and joined Stratfor’s board of directors…”
“…Stratfor claims it operates ‘without ideology, agenda or national bias’, yet emails reveal private intelligence staff who align themselves closely with US government policies and channel tips to the Mossad …”
BREAKING NEWS ON GOLDMAN SACHS ABUSE OF CLIENTS CAUSES EXEC TO QUIT
Goldman Sachs Loses $2.2B From Op-Ed
That is probably less than 1% of what they have stolen from businesses worldwide.
HENRY GOLDMAN III SAYS GREG SMITH WAS RIGHT
JP MORGAN WHISTLEBLOWER LETTER
We copied it before the CTFC took it down…
BEFORE IT WAS REMOVED: US COMMODITIES AND FUTURES TRADING ASSOC ORIGINAL LETTER LINK
Back in November 2009, Andrew Maguire, a former Goldman Sachs silver trader in Goldman’s London office, contacted the CFTC’s Enforcement Division and reported the illegal manipulation of the silver market by traders at JPMorgan Chase. Maguire told the CFTC how silver traders at JPMorgan Chase openly bragged about their exploits – including how they sent a signal to the market in advance so that other traders could make a profit during price suppression episodes. Traders would recognize these signals and would make money shorting precious metals alongside JPMorgan Chase. Maguire explained to the CFTC how there would routinely be market manipulations at the time of option expiries, during non-farm payroll data releases, during commodities exchange contract rollovers, as well as at other times if it was deemed necessary. On February 3rd, Maguire gave the CFTC a two day warning of a market manipulation event by email to Eliud Ramirez, who is a senior investigator for the CFTC’s Enforcement Division. Maguire warned Ramirez that the price of precious metals would be suppressed upon the release of non-farm payroll data on February 5th. As the manipulation of the precious metals markets was unfolding on February 5th, Maguire sent additional emails to Ramirez explaining exactly what was going on.And it wasn’t just that Maguire predicted that the price would be forced down.It was the level of precision that he was able to communicate to the CFTC that was the most stunning.He warned the CFTC that the price of silver was to be taken down regardless of what happened to the employment numbers and that the price of silver would end up below $15 per ounce. Over the next couple of days, the price of silver was indeed taken down from $16.17 per ounce down to a low of $14.62 per ounce. Because of Maguire’s warning, the CFTC was able to watch a crime unfold, right in front of their eyes, in real time.
UNIDENTIFIED GOLDMAN SACHS EMPLOYEE CAUGHT ON WIRETAP LEAKING SECRETS ABOUT APPLE, INTEL
Mayor Bloomberg Shows His Support For Goldman Sachs!

GOLDMAN SACHS WHISTLEBLOWER SAYS EDMC ENGAGES IN PREDATORY LENDING
11 Reasons Why America Would Be Better Off Without Goldman Sachs

 

h/t For the following submission:
An In -depth look about EDMC and its brands like AI how their recruiters are taught how to manipulate students in order to get them to sign up.

Another Lawsuit against EDMC is unsealed claiming same fraud as first. http://www.huffingtonpost.com/2012/03/15/education-management -corp -for-profit-college_n_1349063.html http://www.bloomberg.com/news/2012 -03-15/education -management -preys-on -students -former -recruiter-claims.html? utm_source=twitterfeed&utm_medium=twitter

http://www.huffingtonpost.com/2011/10/14/goldman-sachs-for-profit-college_n_997409.html

About EDMC’s History and how they got to become the revenue hounds and deceptive scamsters they are today:

http://higheredwatch.newamerica.net/blogposts/2011/what_s_the_matter_with_edmc -58847

http://higheredwatch.newamerica.net/blogposts/2011/the_transformation_of_edmc -59018

http://higheredwatch.newamerica.net/blogposts/2011/the_extraordinary_growth_and_decline_of_edmc-59329

About EDMC being sued for 11 to 33 billion dollars by the Federal government for illegally paying/rewarding recruiters for suckering students in.

A complete lowdown on EDMC and their board of directors. http://www.projectcensored.org/top -stories/articles/change-to -win-goes-after -the-educational -management -corporation -for-violations -of -regulations -in-an-effort -to -protect-members -pension -funds/

Senator Durbin talks about the For-profit schools with IL Attorney General, she is part of case against EDMC http://www.youtube.com/watch ?v=WMbNxuSEbns

EDMC is mentioned again here: http://www.huffingtonpost.com/2012/02/03/auction-2012-education-for-profit-colleges_n_1251072.html

http://www.nytimes.com/2011/08/09/education/09forprofit.html

Rather than improve quality for the students, they just lay people off to keep their corporate cash flowing to executives

http://www.pittsburghcitypaper.ws/pittsburgh/for -profit-educator -edmc-gives-employees-a-tough-lesson-in-modern -business/Content? oid=1487478#.TyvZo_22n_Q.email

http://www.pittsburghcitypaper.ws/SlagHeap/archives/2012/03/12/more-edmc-layoffs-reported

EDMC CEO Todd Nelson’s wife drops 50k to Romney super Pac who would roll back regulation on these scammers, yet he ‘didn’t know’ http://www.usatoday.com/news/politics/story/2012 -03-26/romney -for-profit-colleges/53865654/1

About EDMC being sued for 11 to 33 billion dollars by the Federal government: http://www.cnn.com/2011/CRIME/08/08/schools.recruiting.suit/

About EDMC being sued for $11 to 33 billion dollars by the Federal government: http://www.huffingtonpost.com/2011/08/08/justice -department -for-profit-college_n_921661.html

SEIU, a labor union launched a site with facts about EDMC: http://www.forprofitu.org/about -edmc/http://www.truth -out.org/good -wall-street-bad -students/1328900136 http://www.pittsburghcitypaper.ws/pittsburgh/lesson -plan-seiu -educating-about-dangers-of -for-profit-colleges/Content ?oid=1490412

IL Attorney General mentions EDMC/AI by name in suit. http://studentloansblog.nextstudent.com/2012/03/27/illinois -attorney -general-slams-student -loan -debt -from-for-profit-colleges/The hearing: http://www.judiciary.senate.gov/hearings/hearing.cfm?id=eb997a7c3376c76b36a041cf2a10ca10

Sgt Chris Panzke and AI get mentioned in this. http://www.chicagotalks.org/2012/02/05/senator-durbin -targets-for-profit-schools/

Rolling Stone mentions the Art Institutes job placement http://www.rollingstone.com/politics/blogs/national-affairs/obama-and -the-cult -of -college -why -rick -santorum-had -a-point-20120307

EDMC laid off workers recently, check out their comments on the news story. Its clear the scam IS real. www.pittsburghcitypaper.ws/SlagHeap/archives/2012/01/26/edmc -insiders -report -layoffs-underway

More coverage about EDMC and the for-profit college Industry:

http://www.huffingtonpost.com/2011/12/01/for-profit-colleges-state-oversight -national-consumer-law -center-report_n_1124193.html? ref=fb&src=sp&comm_ref=false#sb=1912322,b=facebook

UPDATES on that lawsuit: http://www.post -gazette.com/pg/12037/1208493 -100.stm http://www.businessweek.com/news/2011-12-08/education -management -should -face-recruitment-suit -u-s-says.html

http://www.post -gazette.com/pg/11342/1195509 -100.stm

Also, California is investigating them too: http://californiawatch.org/dailyreport/sf-city -attorney -probes -art -institute-california-14840 http://www.huffingtonpost.com/2012/02/10/art -institute-california-san -francisco_n_1269336.html

Olympia Snowe retires, but ‘not because of the lawsuit’ http://bangordailynews.com/2012/03/08/business/education-firm -chaired-by -mckernan-presses -to -have -federal-multibillion -dollar-fraud -suit -dismissed/

The Consumer Financial Protection Bureau even got complaints about AI when it asked for comments:

http://www.consumerfinance.gov/chime-in-on -private -student -loans/

Mitt Romney apparently supports these debt factories. EDMC gets mentioned in this one. http://www.huffingtonpost.com/2012/01/15/mitt-romney -for-profit-colleges_n_1207382.html

A story about that, with 9 students stories in it. http://www.businessinsider.com/x-student -loan -horror-stories -2011-12

Steve Macintyre’ch story is mentioned here. He went to the Art Institutes of Philadelphia. http://www.businessinsider.com/x-student -loan -horror-stories -2011-12#steve-macintyre-100000-in-debt -and -out -of -a-job -1

The experience of a former Sallie Mae worker, AI mentioned in this. http://www.huffingtonpost.com/dan -lybarger/tales-of -a-phone -monkey -m_b_1121260.html

Another about the Department of Justice case against EDMC: http://www.cbsnews.com/stories/2011/08/09/national/main20090134.shtml

A girl from AI Atlanta turns to “Sugar Daddies” to pay EDMC created debts, even hints at EDMC’s credit holding ransom tactic. http://www.gsusignal.com/campus -life/who -s-your-daddy -1.2714887#.T3cBkvmCV8G

Rachel went to AI and ended up with 100k+ in debt mentioned in this: http://www.npr.org/2011/10/31/141870267/how -has -student -loan -debt -shaped -your-life

MN joins the case against EDMC/AI. Their AG says it all:

http://hometownsource.com/2011/09/22/swanson -issues-alert -to -caution-students -parents -about-potential-traps/

A student from Brown -Mackie, an EDMC school burned in the same method.

http://www.journalgazette.net/article/20111204/EDIT10/312049981/1147/EDIT07

A story about EDMC’s 5th set of schools, Western State College of Law. They’re doing the same thing.

http://subprimejd.blogspot.com/2011/04/goldman -sachs-profiting-off-law -school.html This one mentions all of the Art Institutes and Florida and details a little bit about the Federal lawsuit.

http://floridaindependent.com/46718/art -institutes -included-in-for-profit-college -crackdown

About their AI and their photography program, Don Orkosky, Suzanne Lawrence, and others are mentioned

http://www.pdnonline.com/pdn/news/The-Art-Institutes–3528.shtml

Stories about Attorney General and complaints from students at from AI in North Carolina

http://www.indyweek.com/indyweek/students -file -complaints -against-art -institute-with -nc -attorney -general/Content ?oid=2549950

A student from AI Atlanta becomes a sugar baby to pay for her college education http://www.gsusignal.com/campus -life/who -s-your-daddy -1.2714887#.T2KPqfmCV8F

More about EDMC http://www.pittsburghcitypaper.ws/SlagHeap/archives/2010/12/27/is -pittsburgh -sitting -atop -an-economic-bubble Occupy Miami Florida protests the Art Institutes in Miami

http://www.miamiherald.com/2011/11/05/2488358/occupy -miami-protests -the-miami.html Chris Pantzke’s story:

http://www.bloomberg.com/video/63231858/Myself and Chris Pantzke on PBS Frontline. They skip over me being from AI, I’m not happy about that:

http://www.pbs.org/wgbh/pages/frontline/educating-sergeant -pantzke/The First College Inc Story that mentions an Argosy (EDMC SCHOOL) student going through the same thing as AI students:

http://video.pbs.org/video/1485280975/

EDMC Lead finding method revealed:

http://chronicle.com/article/Colleges-Fight -Google -Ads -That/128414/

Harris Miller and EDMC get slapped over and over again in this by callers:

http://radioboston.wbur.org/2011/06/14/for -profit-colleges Coverage of EDMC bilking students and taxpayers out of 11 billion+

http://www.pittsburghlive.com/x/pittsburghtrib/news/pittsburgh/s_750600.html#ixzz1UUFb9RIQ

Coverage of Taryn Zachyl’s story and how AI ruined her life.

http://www.bendbulletin.com/article/20110407/NEWS0107/104070366/

A story that mentions me and the situation I went through.

http://www.bloomberg.com/news/2010 -12-28/for-profit-college -slump -converging-with -student -life -debtors.html

Kathie Bittel’s story about AI Pittsburg On -line’s job placement stats being padded

http://www.cnbc.com/id/38412121/Greenberg_For_Profit_Schools_Whistle_Blower_Tells_Tales

Jeremy Dehn, A former instructor from AI Colorado tells his story http://www.nytimes.com/2010/10/11/opinion/11dehn.html?_r=1

“One political reform would be closing loopholes in federal student loan programs that allow companies like Goldman Sachs (yes, Goldman Sachs!) to enter the tech school diploma racket. The Wall Street giant owns about 38 percent of Education Management Corp., parent company of the Art Institutes. The sole requirement for admission to AI and a growing list of for-profit colleges appears to be a pulse.”

http://www.rfdesignline.com/electronics -news/4233865/Needed –A-U-S–manufacturing-renaissance

More about EDMC: http://www.pittsburghcitypaper.ws/pittsburgh/art-of -the-deal/Content?oid=1339907

A story about Michael Podrid from AI Atlanta:

http://www.ajc.com/news/feds -tighten -for-profit-969095.html About David Largeteau and AI Charlotte

http://www.wcnc.com/on -tv/For-profit-trade -schools-grads-question -job -placement-stats-student -loan -debt -92537959.html The story of Carrianne Howard who went to AI Tampa

http://www.bloomberg.com/news/2010 -08-05/stripper-s-college -degree-profitable -for-goldman -finds-70-000 -was-wasted.html

EDMC/AI’s pursuit of Veterans for GI BILL money http://www.post -gazette.com/pg/10361/1113651 -84.stm

More coverage of EDMC/AI Pittsburgh

http://www.post -gazette.com/pg/11163/1152858 -53-0.stm

AI Hollywood is $112,000 for a degree http://californiawatch.org/dailyreport/student-debt -rising-graduation -rates -flat -11937#4-YEAR%20FOR%20PROFITS

About EDMC and their Lobbying efforts:

http://www.postgazette.com/pg/11023/1120085-298.stm Department of Justice lawsuit against EDMC causing sparks in England:

http://www.timeshighereducation.co.uk/story.asp ?sectioncode=26&storycode=417161&c=1 The deceptive method EDMC went to lobby away student protection regulations:

http://motherjones.com/politics/2010/09/edmc -dci-for-profit-college -lobby-duncan A nice news article and video detailing what is going on with the Department of Justice Lawsuit:

http://fortwaynehomepage.net/fulltext ?nxd_id=47837

Daniel Golden of Bloomberg talks about his interview with Chris Pantske:

http://www.npr.org/2011/05/12/136238528/for-profit-colleges-targeting-people-who -cant -pay

A story about EDMC and other for-profits raking in the GI BILL

http://www.bloomberg.com/news/2010 -12-09/for-profit-colleges-scam-military -for-521 -million-senate-committee-says.html

A story about AI Seattle being the biggest black hole of GI BILL money

http://blogs.seattleweekly.com/dailyweekly/2010/12/surprise_the_art_institute_of.php

AI’s Boiler Room Sales Tactics coverd http://www.mediapost.com/publications/ ?fa=Articles.showArticle&art_aid=155536 An early story about AI Grads not finding jobs

http://www.wcnc.com/on -tv/For-profit-trade -schools-grads-question -job -placement-stats-student -loan -debt -92537959.html

And finally a video experience of an anonymous former AI Online student: http://www.youtube.com/watch ?v=SU29jTJC7BI http://www.youtube.com/watch ?v=SkOrwayYAUM

Article that goes over the industry but mentions EDMC and AI

http://www.tampabay.com/opinion/editorials/article1185483.ece

EDMC DoJ lawsuit and employment mentioned here: http://higheredwatch.newamerica.net/blogposts/2011/a_widening_for_profit_college_job_placement_rate_scandal-56122

AI hosting Beer Tasting Events and charging money that goes towards scholarships, but scholarships for who ? Bait students ?

http://www.mediapost.com/publications/ ?fa=Articles.showArticle&art_aid=155536

A story about Kaplan but it is related because EDMC uses the same methods

http://chronicle.com/article/Pawns -in-the-For-Profit/127424/

EDMC mentioned in this about the DOJ Lawsuit:

http://www.tampabay.com/news/briefs/tampa-schools-part-of -11-billion -fraud -complaint/1184990

A site with all kinds of neat facts and legal things about EDMC they don’t want anyone to know about:

http://www.Tampastudents.net

Sen Olympia Snowe announces ‘retirement” yet doesnt mention her Husband, who is an EDMC Chairman as a reason even though he’s facing litigation that literally blames him for the fraud being done by EDMC http://www.huffingtonpost.com/2012/02/28/olympia-snowe -retiring_n_1307824.html

EDMC’s Wiki which has some interesting facts posted on it as well: http://en.wikipedia.org/wiki/Education_Management_Corporation

South, one of EDMC’s other schools revealed to have a 17% retention rate and 15% graduation rate, is AI far behind ?

http://nces.ed.gov/collegenavigator/?id=139579#retgrad

Stephen Burd of New America has a blog that tends to mention AI and the scam. They broke the story about Kathie Bittel (http://help.senate.gov/imo/media/doc/Bittel.pdf) who testified against EDMC. This blog is about how job placement rates got manipulated.

http://higheredwatch.newamerica.net/blogposts/2011/tricks_of_the_trade_school-57227

http://higheredwatch.newamerica.net/blogposts/2011/a_widening_for_profit_college_job_placement_rate_scandal-56122

http://higheredwatch.newamerica.net/blogposts/2010/breaking_news_a_key_witness_at_senate_hearing_will_reveal_how_for_profit_colleges_coo

Stephen Burd’s new blog mentions AI by name again http://www.quickanded.com/2012/03/ace-throws-for-profit-school-victims -under-the-bus.html More about Ms. Bittel and how EDMC manipulated job stats http://judicial-corruption.net/2012/01/02/edmc -for-profit-schools-whistle-blower-tells-tales/

Another link between Sallie Mae, For-profit colleges, and sub -prime lending surfaces http://www.courthousenews.com/2012/01/30/43445.htm http://www.courthousenews.com/2012/01/30/43445.htm

Some tricks the industry uses to spin what they say http://www.alternet.org/newsandviews/article/847705/the_blueprint_of_the_for-profit_college_newspeak_campaign/

How the industry targets our leaders in government so they can continue milking government funding http://www.republicreport.org/2012/exclusive-subprime-schools-lobbyist -trent -lott -explains-how -he-won -over-congress/http://www.republicreport.org/2012/exclusive-leaked -memo -reveals -house-gop -leaders -directed -for-profit-college -lobby-strategy/

And it works: http://www.truthout.org/congresswoman-accepts-money -profit-college -lobbyists-then -touts -schools-efficiency/1325699179

But, SEIU stands up for students and instructors to counter that lobby effort. http://www.seiu.org/2012/03/the-full-story -on -hill-day.php The consumer financial protection bureau collects complaints about student debt https://help.consumerfinance.gov/app/studentloan/ask