Wall Street Institute, Spain

The Inspector came across this Wikipedia article, which illustrates neatly the kind of minds grinding away in pursuit of "Wall Street Institute" profitability.

"In 2002 there were as many as 130 WSI branches in Spain. Many of these were franchises. With the collapse that same year of rival school Opening English, which used a similar computer-based teaching method to that of Wall Street, the Baltimore company saw 88 of its Spanish franchises close before the end of the year.

Today there are less than 20 Wall Street Institute branches open in Spain.

Wall Street and Opening English used a similar method to charge their customers. Customers would sign up for an extended period of time in order to avail of cheaper rates. However the contract which they signed was not with Wall Street but with a financing operation unconnected to the English school chain. Thus when students of the two schools, unhappy with their progress, tried to rescind their contracts early they discovered that they had to take the issue up with the bank that underwrote the financing company who issued their contract. Wall Street does not teach children. The majority were unsuccessful in their claims.

When Consumers Associations took up the plight of many disaffected students, the issue became a national story and loop holes in Spain's commerce laws were shown to be being exploited by the chain schools, who did not have to take any responsibility for the customers' dissatisfaction with the quality of the services they offered.

The relevant laws were subsequently amended."

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Inspector McHammered of the Lard in Pamplona, Spain

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