Grassley Probes Education Officials' Wall Street Ties

Law360, New York (July 28, 2011, 1:36 PM EDT) -- Sen. Chuck Grassley, R-Iowa, launched an inquiry Tuesday into suggestions that workers at the U.S. Department of Education shared information with Wall Street traders about changes to the $35 billion for-profit education industry.

Grassley, ranking member of the Senate Judiciary Committee, wants details about policies governing how department employees handle contact with private investors seeking to profit from nonpublic agency information.

"Certain investors contact government agencies to try to gain any advantage they can over other investors,” the senator said. “Since that’s inevitable, the question is...
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