Steve Eisman is a money manager famous for shorting securitized

Securitization

Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans or credit card debt obligations and selling said consolidated debt as bonds, pass-through securities, or Collateralized mortgage obligation , to...

 subprime home mortgages

Subprime lending

In finance, subprime lending means making loans to people who may have difficulty maintaining the repayment schedule...

. Eisman currently works for FrontPoint Partners, a subsidiary of Morgan Stanley

Morgan Stanley

Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....

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FrontPoint Partners

As of January 2011, Eisman is considering leaving FrontPoint. Eisman reportedly queried potential clients about managing money for them if he leaves FrontPoint. When asked about his plans for the future, Eisman answered, "At this point in my career, I want to have more control over my destiny."

Campaign against for-profit colleges

Eisman is a strong opponent of for-profit institutions of higher education. During a speech entitled "Subprime Goes to College" during the Ira Sohn Conference in May of 2010 Eisman attacked companies that run private colleges such as Think ITT Educational Services, Corinthian Colleges, and Education Management Corporation

Education Management Corporation

Education Management Corporation is an operator of private for-profit post-secondary educational institutions, primarily in the United States. The company's institutions provide primarily career-focused educational programs...

. Eisman likened such companies to seamy mortgage brokers. He said, "Until recently, I thought that there would never again be an opportunity to be involved with an industry as socially destructive and morally bankrupt as the subprime mortgage industry. I was wrong."

After the Department of Education

United States Department of Education

The United States Department of Education, also referred to as ED or the ED for Education Department, is a Cabinet-level department of the United States government...

 took action against for-profit colleges in 2010 the industry retaliated by accusing Eisman of attempting to illegally influence the government and calling for an investigation by the Secretary of Education. The allegations stem from a meeting that Eisman had with Department of Education officials David Bergeron and Robert Shireman, two weeks before delivering his speech at the Ira Sohn Conference. Shireman was in charge of the department's efforts to toughen regulations on for-profit colleges.

After offering testimony to Senate Health, Education and Labor Committee

United States Senate Committee on Health, Education, Labor, and Pensions

The United States Senate Committee on Health, Education, Labor, and Pensions generally considers matters relating to health, education, labor, and pensions...

 on problems with for-profit higher education, Eisman was strongly criticized by progressive groups such as Citizens for Responsibility and Ethics in Washington

Citizens for Responsibility and Ethics in Washington

Citizens for Responsibility and Ethics in Washington is a nonprofit 501 organization that describes itself as "dedicated to promoting ethics and accountability in government and public life by targeting government officials – regardless of party affiliation – who sacrifice the common good to...

on the grounds that he stood to profit from proposed regulations due to his short positions against private colleges.