After making the short heard 'round the world with his bet against the subprime mortgage market, Steve Eisman, one of the key players in "The Big Short,"now has his crosshairs set on the for-profit education sector.
The industry makes most of its money off of federally-backed student loans and now, the Department of Education has proposed new rules that may significantly curb their profits.
The CEO of ITT Education recently said on CNBC that the underprivileged will be hurt most by these new regulations.
"His argument is so pathetic. It would be laughable. His argument is essentially that we educate the underprivileged. We provide education that you can't get elsewhere. So leave us alone," Eisman, managing director of FrontPoint Partners, told CNBC's "The Strategy Session" on Wednesday.