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

[xchrom]

http://www.alternet.org/education/charter-schools-sold-investment-wealthy-foreigners-looking-green-card



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 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.”

So what are these Chinese financiers investing millions of dollars in as a way to win their green cards? Evidently, charter schools. In fact, they have invested $30 million in charter schools in Florida alone. And according to the report, they are planning to invest three times that amount in the next year.

This comes at a time when more and more investors are viewing charter schools as secure investments. Just a few months ago on CNBC, David Brain, President and CEO Entertainment Properties Trust, a real estate investment firm, praised charter schools as reliable investments.

[ananda]

1. Now that's what I call a rightfine scam!

Charter schools.. reliable investments?

Sure they are .....

[kelliekat44]

2. This needs to be explained to low information voters in FR. Ooops there goes school vouchers!

[Scuba]

3. The efficiency of privatization: our education tax dollars go directly to Chinese investors.