Don’t cry for ITT. Judging from all the accusations that have been made against the ITT in recent years, its leaders have only themselves to blame for the company’s collapse.
Unsurprisingly, ITT officials and other apologists for the company, such as the editorial writers at The Wall St. Journal, don’t like that explanation. They would like to portray ITT as being another victim of the Obama’s “regulatory assault” on the for-profit higher education industry. But they don’t explain why American taxpayers should continue to support a company that appears to have deliberately defrauded students, shareholders, and the federal government, while raking in billions of dollars in federal financial aid every year.