Enron may have gone bankrupt, and its employees may have lost their life savings, but it left some people very rich.

Here EduShyster tells the story of Texas billionaire John Arnold. He is one of the lucky few who managed to walk away from the Enron debacle with more than $3 billion. Some former Enron execs are doing time. Not Arnold. You know he must be smart because he got out before the roof fell in, and the bottom fell out.

And how does he spend his vast wealth?

He does what canny investors do: he pours millions into the struggle to privatize American public education. He has given millions to KIPP, StudentsFirst, and TFA. And he has a special interest in making sure that teachers don’t have pensions.

Billionaires have a hard time understanding why anyone needs a pension. They don’t need pensions. Why should teachers get them?