You say

Swartz goes and invests OUR money in educational loans that he now cannot sell

As most people here know, I am no fan of S & L. I think that the company took a huge tax hit (greater than $15 million) in order to give S & L (and us) additional $$$ for a nontaxable dividend on stock and warrants.

But i don't think that they have any say over the short term investments that the company makes as part of operations. I think the CFO would have that responsibility.