Argosy Parent $Billion Fraud Alleged

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So instead of attempting to shut down an industry that has opened the doors for people to better their lives; why not work with the state universities to offer more of these programs that have displayed high graduation rates, low cohort default rates and other positive statistics.

Probably true, but avoids the main point. It is like bigots preaching you shouldn't judge a burglar or a rapist caught red handed because you did not pay your parking ticket and shouldn't thus judge because "you are a sinner, too": it makes no sense soever.

Nobody can dispute that big brother's utopian schemes preaching college degrees for all failed; mostly because you-know-whos still perform as they did in the 1920s (maybe worse) despite all billions well-wishers may pour down the drain of scholarships, "studies" etc.

This does not excuse boiler room scammers swindling minorities and -ultimately- swindling the taxpayer while at the same time waving the flag of free enterprise: the various Lehman, Madoff etc did that, too, and there is no denying their strategy did benefit someone...not the general public, though.
And in keeping with the social alchemy program, let's ignore boiler room scams until a new utopian, multi-billionaire scheme is in place. Who benefits? Who pays? The friendly, politicking contractor is NOT going to say no, right?