Of interest:
https://www.insidehighered.com/news/2019/04/03/another-profit-giant-collapses-critics-dream-center-deal-wonder-why-feds-didnt-seek
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Here’s the key takeaway that seems to be glazed over...
—>Barmak Nassirian, director of federal relations and policy analysis at the American Association of State Colleges and Universities, said the situation was fairly straightforward: there was never enough money to keep the enterprise going. “This was somebody taking over what they thought would be an ATM,” he said, despite the chain being a “distressed toxic asset.”
"Of course this could have been prevented. It should have been prevented," Nassirian said.