Get sick, get well
Hang around a ink well
Ring bell, hard to tell
If anything is goin' to sell
-- Bob Dylan

Saturday, May 4, 2013

Michael Milken treating schools like junk bonds

Good post at Modern School blog, describing the great K12Inc. public school  heist engineered by  indicted racketeer and securities fraud purveyor, Michael Milken. Despite K12’s lack of success in terms of improving student achievement, the company has been a cash cow for Milken and his fellow investors.

According to MS:
Milken, as you may recall, was indicted on 98 counts of racketeering and securities fraud in 1989 as a result of his insider trading and junk bond scamming. As part of a plea deal, he admitted guilt to six securities violations, but was never convicted of any of the racketeering charges. Sentenced to 10 years in a tennis club prison for white collar crooks and permanently banned from Wall Street, he ultimately served only 22 months, paid a hefty $1.1 billion in fines, but bounced back in better shape than the vast majorities of Americans could ever dream of, with a net worth of over $2 billion in 2010.

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