Are public universities too big to fail?

By Wade Gilley. Dark clouds are forming over America’s public universities as the Wall Street mindset spreads across more of our institutions. A decade of excessive spending based largely on unlimited student loans is looming dangerously over a major national asset. In January 2013, Moody’s, the nation’s premier credit rating organization, issued a report titled “U.S. Higher Education Outlook Negative in 2013.” Moody’s evaluation was based on the hundreds of billions of dollars in institutional debt incurred by America’s public universities, including exotic non-traditional financial schemes. Read more...