University of Phoenix’s Curious Take on the Law

University of Phoenix graduation (Flickr User: Scott's View of the World)

Apollo recently announced that it expects to pay $80 million to settle a lawsuit brought by two former employees who allege that Phoenix defrauded the government’s student aid program by paying recruiters solely on the basis of enrollment, which is not allowed under Education Department rules.

Another $8 Billion Or So on the Line for AIG

aig

AIG has finally come clean with the public about who was at the other end of its calamitous financial bets. The recipients of billions of taxpayer dollars were … well … pretty much the banks that we expected: Societe General, Goldman Sachs, and Deutsche Bank, to name a few. The full list is here . […]

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