A.N. created a second class of trusts in 1971, the T-551 Trusts, set up in Nassau.

FORBES: On The Cover/Top Stories

"I don't recognise the committee's description of our higher education sector, which is in fact world class and second only to the USA as a top destination for overseas students, " said Lord Mandelson.

BBC: Universities 'fail on standards'

Students with lower class rankings or from second-tier schools who once would have made the cut "wouldn't have a prayer of getting in now, " Mr. Dantzler says.

WSJ: Law Firms Keep Squeezing Associates