During a House Judiciary Committee hearing last week, Rep. Jim Jordan (R-OH) spoke about collusion from Ivy League schools.
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00:00I now recognize chairman of the full committee, Mr. Jordan, for his opening statement.
00:03Thank you, Mr. Chairman. So first, they set the same general price.
00:08Then, second, they demand large amounts of information from the student and their family
00:12for each student, and they squeeze every dime they can out of that family for tuition.
00:19And then third, they limit class size.
00:21So they agree on price, they perfect price, discriminate, and they limit output.
00:25That's about as anti-competitive behavior as you can get.
00:28And then with this windfall of money they get, perfect price discrimination, collusion
00:33on the price, limiting the class size at the institution, this windfall of money they get
00:39from students and their families and the government, the taxpayers, they hire an unbelievable amount
00:45of administrators.
00:46Mr. Shea has pointed that out.
00:48Such a deal.
00:50Such a deal for taxpayers and families.
00:52That's what's going on.
00:54And thank goodness the chairman's having a hearing on this.
00:57It's ridiculous.
00:58And everyone knows it.
01:00Not to mention all the crazy things we saw and witnessed at these institutions over the
01:04last few years.
01:06All kinds of crazy protests, taking over buildings, anti-Semitic behavior.
01:09I mean, not to mention all that.
01:11That's what's going on.
01:13And the ranking member of the subcommittee says, we're wasting our time?
01:16You've got to be kidding me.
01:18The taxpayers appreciate that their tax money actually is used in the right way, not like
01:21it's being used at these institutions.
01:22So again, I want to thank the chairman for this hearing.
01:24I look forward to our witnesses and thank them for being present today and testifying.
01:29With that, I yield back.
01:29The gentleman yields back.