Tyrants throughout history have known that beheading their enemies and placing the heads on pikes at the gates of their capitals sends a powerful message to everyone else.  Behave yourself as we dictate, and you may survive.  Cross the king, and you are a dead man. Something very similar, but updated and taken to a vast financial level, happened to ITT Tech, the privately owned trade school/university.  As the Wall Street Journal explains, it crossed the king (in this case, the Obama Department of Education): ITT Technical Institute folded on cue Tuesday after the Obama Administration issued a regulatory death warrant last month. ITT investors must be wishing they had ponied up for political protection like Laureate International Universities, the for-profit college that paid Bill Clinton $17.6 million to serve as its “honorary chancellor.” ITT’s decision to close all of its 130 some campuses—stranding 40,000 students and 8,000...(Read Full Post)