Wednesday, April 25, 2007

Albert Lord Being Investigated By SEC 

David S. Hilzenrath of the Washington Post says that Albert Lord, the Chairman of the Board of Sallie Mae and one other director are being investigated by the SEC and Congress for selling stock in the company immediately before President Bush announced that his recent budget request would reduce subsidies to providers of student loans. Mr. Lord said recently that he is leaving Sallie Mae after being given $135 million.

Albert Lord is also chairman of the board of directors of the Cesar Chavez Public Charter School for Public Policy. I wonder if he will step down from this role also?

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