It's not just about the agencies

Buried in Credit Agencies Under Fire at Conference - Finance Career Management, Finance Career News - fins.com, which covers extensively the lambasting that the agencies took again this year at the Ira Sohn Research Conference, is a warning from Steve Eisman of FrontPoint Financial Services Fund about a pending collapse in the financial instruments funding the commercial education companies. His preso is called "Subprime Goes to College." (Hat tip to the MarketFolly blog for summarizing the presentations, which don't seem to be available online yet.)