Society wins when criminal enterprises are shut down. I don't have sympathy for the employees who stayed, they deserve it for being so blind and gullible. You knew what you worked for, now you share in its fate. Don't cry about how management lied to you, there were ample...AMPLE amounts of warnings on this board telling you what was really going to happen. The students win too...now they can go to a respected school, start over, and in all likelihood, have the CCI debt eliminated. The only losers are the ones who deserve to lose: CCI and its employees. Hehehehehe...ding dong the witch is dead.
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809,
Was that true or was the law of unintended consequences fulfilled -- because the government got involved, the graft and pile of unemployed grads with massive loans became too big to ignore? Few will argue that providing "hope and dreams", incentivizing career training for unemployed and veterans, is bad.
However, did the government put in place a patchwork of regulations and incentives that led to bad behavior? I argue "yes".
Is the government legitimate in destroying the companies, employees, and students that responded to incentives that it put in place? I argue "no". Shooting people who responded to government incentives as an example to others who would respond to those incentives does not fix the underlying problem - the incentive structure is broken.
The problem, "graft and pile of unemployed grads with massive loans", is obvious. DOE, Kamala, et. al., are part of the problem, entrenched bureaucrats and grandstanding politicians advocating more bureaucracy and cronyism to "fix" the problem that bureaucracy and cronyism created. If we as a society (aka "government") choose to interfere in the employment market by incentivizing career training, then we need to have a clear understanding of our goals and objectives and measurable outcomes towards achieving those. Lacking that clarity, politicians will continue to siphon money to their supporters and claim success by continually "moving the goalposts".
To me, the lesson to be learned from the Corinthian debacle is Econ 101. Markets respond to incentives. If the government chooses to interfere in the market, it needs to be clear on what it is trying to accomplish and a have way to measure progress and correct itself along the way if needed.
689 - The government got involved because the graft and pile of unemployed grads with massive loans was too big to ignore.
OP, 377: Per economic theory, the shutdown created short-term hardships, but in the long-term, the resources (including talented employees) affected, have been freed to contribute more efficiently and productively to society, maximizing their value to themselves and to society as a whole. This is Adam Smith's "invisible hand". One might argue that the shutdown was not caused by fair competition, but by heavy-handed government intervention in the market. There is a case to be made; connect the dots between the Clintons and for-profit Laureate. To what extent did the Obama administration and Kamala target CCI in order to benefit their political cronies? Was CCI a bad actor, unable to compete in the market and justly bound to fail, or was CCI, helping students achieve their hopes and dreams, pushed into the abyss to eliminate competition, fattening the pockets of the "arrogant", politically-connected? You got me. The people who do know are not talking.
CCi may have met its righteous end but students, employees and taxpayers still lose. If you are still getting a paycheck, look at the government withdrawals. A criminal enterprise tanked, but anyone with a job will pay their check. This was an intended consequence of failure - a built in exit plan at the expense of all the little people. Arrogant, isn't it?
Please repost this a million times!
ditto!!!
There was some very, very good intel here, right up to the person pointing out that it would happen at the weekend in spite of the fact that the quarter had begun. That person knew a lot, but people didn't WANT to believe it. Some people were just plain angry and posted things like "you're full of shit," with no rebuttal. It took two things: 1) following the obvious signs in the press (the date that a buyer needed to be found according the the agreement with the Dept of Ed., the stock tanking and then being delisted, the increasing number of investigations, the halting of CalGrants, the date on the reprieve of CalGrants (HUGE SIGN), the Heald fine, and finally the halt on enrolling new students), and 2) the information posted by the people in the know, especially when they pointed to actual documents.
Anyone with half a brain saw the writing on the wall. The only people left at the end were the truly gullible, the unemployable anywhere else, and the other undesirables. Everyone else split already. Enjoy your hopefully LOOOOONG stretch unemployed, cocksuckers:)
"AMPLE amounts of warnings on this board telling you what was really going to happen" So you honestly believe that ALL CCi employees knew about AND read this forum regularly? Plus let's not kid ourselves about the prevalence of trolls here (particularly during the time when CCi was for sale and before ECMC bought them) who enjoyed putting out mis-information and flat-out lies just to see panic in the posters here. There's been some good intel pass on here, but it's often been clouded by troll baiting and other nonsense. And let's not kid ourselves that EVERY person within a corporation reads this site.