HIGHER EDUCATION BUBBLE UPDATE: Colleges Rattled As Obama Presses Rating System. They thought stuff like this would only be for their for-profit competitors, I guess. But:

Mr. Obama and his aides say colleges and universities that receive a total of $150 billion each year in federal loans and grants must prove they are worth it. The problem is acute, they insist: At too many schools, tuition is going up, graduation rates are going down, and students are leaving with enormous debt and little hope of high-paying jobs.

Obama, you magnificent bastard, you read my book.