Bill Clinton bails out from for-profit college company as Schweizer book highlights hijinks

Laureate Education, Inc., and its subsidiary Laureate International University, are very profitable companies, successfully competing with the higher education cartel. Nonprofit higher education does not like the competition (which doesn’t offer tenure, hire bloated administrative staffs, or focus on obscure and politically correct topics, among other competitiveness-enhancing policies), of course. So what’s a clever and politically sophisticated operation to do? Joshua Green and Jennifer Epstein of Bloomberg write:

Laureate, which runs for-profit colleges, hired Clinton just as the Obama administration began drafting tougher regulations for federal financial aid that goes to students who attend for-profit colleges. Around the same time, the Senate committee on Health, Education, Labor and Pensions launched an investigation into the industry. In his book, Clinton Cash: The Untold Story of How and Why Foreign Governments and Businesses Helped Make Bill and Hillary Rich, Schweizer writes that after Bill Clinton accepted the position at Laureate in 2010 in exchange for unspecified payment, his wife “made Laureate part of her State Department Global Partnership.” The State Department subsequently provided tens of millions of dollars to a nonprofit chaired by Becker, the International Youth Foundation.

And now that copies of the Schweizer book are circulating, by sheer coincidence (or so the Clinton campaign would have us believe), it was announced Friday that Bill Clinton would be leaving his position as “honorary chancellor,” with the claim that he all along intended to spend five years there, something that was not announced at the time he took the position, and Laureate started promoting him as affiliated with the organization.

So far, we know only the bare bones of the story. How much Bill was paid, what those State Department grants were used for, what business, if any, there is between the IYF and Laureate itself, and the mechanics of the surge of State department funding for the IYF.

But one thing I have learned watching the Clintons for over 25 years is that there are few coincidences.  This is a rock that has been turned over, and the first thing to scurry away is Bill Clinton.

Laureate Education, Inc., and its subsidiary Laureate International University, are very profitable companies, successfully competing with the higher education cartel. Nonprofit higher education does not like the competition (which doesn’t offer tenure, hire bloated administrative staffs, or focus on obscure and politically correct topics, among other competitiveness-enhancing policies), of course. So what’s a clever and politically sophisticated operation to do? Joshua Green and Jennifer Epstein of Bloomberg write:

Laureate, which runs for-profit colleges, hired Clinton just as the Obama administration began drafting tougher regulations for federal financial aid that goes to students who attend for-profit colleges. Around the same time, the Senate committee on Health, Education, Labor and Pensions launched an investigation into the industry. In his book, Clinton Cash: The Untold Story of How and Why Foreign Governments and Businesses Helped Make Bill and Hillary Rich, Schweizer writes that after Bill Clinton accepted the position at Laureate in 2010 in exchange for unspecified payment, his wife “made Laureate part of her State Department Global Partnership.” The State Department subsequently provided tens of millions of dollars to a nonprofit chaired by Becker, the International Youth Foundation.

And now that copies of the Schweizer book are circulating, by sheer coincidence (or so the Clinton campaign would have us believe), it was announced Friday that Bill Clinton would be leaving his position as “honorary chancellor,” with the claim that he all along intended to spend five years there, something that was not announced at the time he took the position, and Laureate started promoting him as affiliated with the organization.

So far, we know only the bare bones of the story. How much Bill was paid, what those State Department grants were used for, what business, if any, there is between the IYF and Laureate itself, and the mechanics of the surge of State department funding for the IYF.

But one thing I have learned watching the Clintons for over 25 years is that there are few coincidences.  This is a rock that has been turned over, and the first thing to scurry away is Bill Clinton.