Bloomberg – U.S. higher-education stocks fell 48 percent from April to October last year as the federal government proposed tighter regulation and short sellers led by hedge-fund manager Steve Eisman targeted for-profit colleges.
Eisman, whose early bet against the housing market was chronicled in Michael Lewis’s 2010 book “The Big Short,” lobbied Department of Education officials and Senate staffers, according to documents obtained through a Freedom of Information Act request. He publicly called for-profit schools “as socially destructive as the subprime-mortgage industry.”
