I love The Chronicle of Higher Education.

Today, I read an article about a college that was founded in 2007 on the philosophies of Ayn Rand, had only ten students, couldn't pay its bills but offered the ten students gourmet food, and closed its doors in 2008 after asking, much to the disbelief of the (now five) students, whether anyone was coming back in the fall.

The best part: although the college was unaccredited, it was authorized by the state to operate as an institution of higher learning once before it opened and once during its brief lifetime.

Standards fail.