At the same time that Hillary is trying to take advantage of Trump University, Hillary Clinton is hiding a huge windfall thanks to long time Clinton crony, Doug Becker, George Soros and Laureate University. But the biggest thanks goes to you, the American taxpayer. This is a complicated reverse Ponzi scheme where only the taxpayers lose money.
Let’s begin by naming the players in this scheme. First,there is Douglas Becker. Becker, who is a long time crony of Bill Clinton founded Laureate University. Becker is also the CEO of non profit, the International Youth Foundation (IYF). IYF received 11 grants from the State Department worth 9 million dollars in 2009, the year before Clinton took over as Secretary of State. Over the next three years, they received increasing amounts. In 2010, the group received 14 grants worth $15.1 million. In 2011, 13 grants added up to $14.6 million. The following year, those numbers jumped: IYF received 21 grants worth $25.5 million, including a direct grant from the State Department. That totals 55.2 million dollars.
During that same time period Bill Clinton was paid 16.46 million dollars as an “honorary chancellor”. The Clinton Foundation received another 1 to 5 million. Meanwhile, Laureate University benefited by having Clinton’s name to use as a recruiting tool for the multi national university. Another beneficiary is one of the top shareholders of Laureate, George Soros. Anything Soros is involved in is automatically suspect for corruption.
Hillary Clinton. She was the wellspring for the reverse Ponzi scheme where only the first in (US taxpayers) lost money while all of the others divided up the cash. It’s also possible that Hillary helped Laureate avoid losing federal Pell Grant money and student loan money at the same time Obama was cutting other for profit universities from the programs. Or maybe Obama was just helping out old pal, George Soros. Coincidentally (or not) Bill Clinton resigned just a couple of days before the book, Clinton Cash was released. Coincidental? I think not.
The US taxpayer. You are the mark. They stole your money to set up what could be a very elaborate money laundering scheme.
As the Washington Post reports, “Laureate has stirred controversy throughout Latin America, where it derives two-thirds of its revenue.” During Bill Clinton’s tenure as Laureate’s chancellor, the school spent over $200 million a year on aggressive telemarketing, flashy Internet banner ads, and billboards designed to lure often unprepared students from impoverished countries to enroll in its for-profit classes. The goal: get as many students, regardless of skill level, signed up and paying tuition.
“I meet people all the time who transfer here when they flunk out elsewhere,” agronomy student Arturo Bisono, 25, told the Post. “This has become the place you go when no one else will accept you.”
Others, like Rio state legislator Robson Leite who led a probe into Bill Clinton’s embattled for-profit education scheme, say the company is all about extracting cash, not educating students. “They have turned education into a commodity that focuses more on profit than knowledge,” said Leite.
Progressives have long excoriated for-profit education companies for placing profits over quality pedagogy. Still, for five years, Bill Clinton allowed his face and name to be plastered all over Laureate’s marketing materials. As Clinton Cash reported, pictures of Bill Clinton even lined the walkways at campuses like Laureate’s Bilgi University in Istanbul, Turkey. That Laureate has campuses in Turkey is odd, given that for-profit colleges are illegal there, as well as in Mexico and Chile where Laureate also operates.
To date, the media have not asked Clinton one question about the university.