Saturday, March 31, 2012

The real reason Sen. Snowe is leaving the Senate. For profit education scandal at home.

Speaking of virtual, for-profit, education:


Is There More to Sen. Snowe's Resignation Than Congress's "Crumbling Center"?
[...]

Snowe's announcement she will not seek another term in the Senate may have little to do with "civility" or "loss of the center" within contentious politics and more to do with the fact her husband is knee-deep in controversy over an educational for-profit college chain know as Educational Management Corporation or Wall Street ticker (EDMC). 
 
Snowe's husband is former Maine Gov. John McKernan, and he is currently the chairman of the board of directors of EDMC and former CEO of what is the second-largest owner of for-profit colleges in the country. 
 
The for-profit educational retail chain has been sued by the Justice Department and eleven states, based on allegations that the firm falsely reported to government officials that it was not basing recruiter salaries on incentives, which is an illegal ploy the for-profits have used to increase enrollment. The government alleges that they did use incentive pay for recruiters.
 
If the allegations are proven, then EDMC will be held liable for the theft of billions in government funds from Title IV. This could raise some eyebrows regarding McKernan's role as CEO during the time that the company allegedly received Title IV monies illegally and could subject the former governor of Maine to criminal liability.

1 comment:

Kevin Scheunemann said...

I probably agree with you on this.

Her liberal rant about the culture of Washington D.C. was nonsense.

She is covering the scandal at home similar to Democrat John Corzine at Mann.

I think there is a pattern emerging with liberal U.S. Senators stealing from others.