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TheStreet Open House

Dumbest of This Week's 5 Dumbest: Amazon.com Slips on Smut

Repayment rates at for-profit schools were just 36% in fiscal 2009, according to research from the Institute for College Access and Success, a student-advocacy group. At private nonprofit schools the repayment rate was 56%, and at state colleges and universities the rate was 54%.

Almost 8% of voters think that the concept of gold being used as a proxy currency on exchanges is pretty dumb.

This week, London-based Intercontinental Exchange (ICE) announced that it would begin accepting gold bullion as collateral for energy and credit trades.

The purpose of collateral is to make sure that if one side is shorting the exchange, the lender is covered if the trade goes bad. It's best if that collateral price is stable and highly liquid, but gold is a "precious metal," and subject to major price swings.

There are signs that even the gold bulls are pausing to take a breath. The physically backed gold exchange-traded fund, SPDR Gold Shares (GLD), has shed 2.43 tons since Monday. Investors don't seem to be committing new money to the ETF but aren't selling their long positions either.

-- Written by Theresa McCabe in Boston.



>To contact the writer of this article, click here: Theresa McCabe.

>To follow the writer on Twitter, go to @TheresaMcCabe.

>To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.
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