Not What They Seem
Based on our observance of covert action and public charades, we have a feeling that things are not what they seem at New College of California. Our hunch is that the languishing transition team process has in reality been a cover for buying time to shuffle assets in order to avoid having them frozen by investigators in the Department of Justice or auditors in the Department of Education.
Lacking the resources to conduct a thorough field investigation on our own, we have to rely on experience to know that things are always worse than we think, precisely because we often know so little.
Our guess is that Peter Gabel might be using holding companies to evade the feds, but that’s just an educated guess. At any rate, it will be interesting to see what does manage to come to the surface over the winter. We may not learn much unless someone snitches to avoid prosecution, that is, if the feds are even looking into it.