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Sunday, October 14th, 2012

Charter Schools Sold Like an Investment to Wealthy Foreigners Looking for a Green Card

Author:     ALYSSA FIGUEROA
Source:     AlterNet (U.S.)
Publication Date:     11-Oct-12
 Link: Charter Schools Sold Like an Investment to Wealthy Foreigners Looking for a Green Card
Stephan:   Public free education, financed by the government was one of the corner stones that created American democracy. Now it is all being undermined by the Rightist drive to privatize education. It is amazingly profitable for investors terrible all to often for children, and we are beginning to see it also has unintended consequences that no one foresaw. This report describes one of them. Privatizing public education, like privatizing prisons is just an awful idea.

Who knew it was possible to come to the United States without dealing with the inefficient immigration system? Apparently, a bunch of wealthy Chinese investors.

According to a Miami Today report last week, these Chinese financiers are taking advantage of the U.S. EB-5, an Immigrant Investor Program [3] that sets aside certain visas for investors who stimulate economic growth within the United States. The investors are required to invest at least $1 million and create at least 10 full-time jobs for U.S. residents. The EB-5 process has therefore been dubbed the ‘green card via red carpet.

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