Why the For-Profits are taking a hit

The press seems to be failing to put the two-and-two together. New enrollments at the University of Phoenix has dropped by nearly 42% . Likewise, Strayer has seen a drop of around 22%.  Naturally, that means that their stocks aren't doing too well. It's with even more delight to report that other for-profits have taken a hit. These are the most notable.

Why is this happening? Well, here are two reasons: (a) Senator Harkin's hearings are taking their toll, as are (b) Robert Shireman's proposed regulations on 'gainful employment.' It's a shame that the press can't connect the dots, and can't give them any credit. But, then again, should we really expect one leg of the entertainment industry to provide us with good analysis on matters such as this? Probably not. Of course, you have your pro-business framing, but I'll save my critique of that for another day.