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00:00SCARLET: THE COLLEGE ADMISSIONS PROCESS IN AMERICA IS CUTTHROAT. IT NOW SEEMS SOME WEALTHY AMERICANS HAVE ALREADY WON BEFORE THE EVEN APPLY. TEST OF MINISTERS WERE CHARGED IN A CRIMINAL CONSPIRACY -- ADMINISTERS WERE CHARGED IN A CRIMINAL CONSPIRACY -- YOU HAVE LOTS OF CLIENTS. THEY MUST BE ASKING YOU LOTS OF QUESTIONS. HOW DO YOU SEE THIS CHANGING THE ADMISSIONS PROCESS? > > I DON ' T THINK IT CHANGES MUCH FOR STUDENTS AND FAMILIES WHO ARE NOT TRYING TO DEFRAUD THE ADMISSIONS PROCESS. WE DON ' T WORK WITH PEOPLE TRYING TO BRIBE THEIR WAY INTO SCHOOL, LEGALLY OR OTHERWISE. SCHOOLS WILL HAVE TO TAKE A HARD LOOK AT SOME OF THE THINGS THAT BROKE DOWN HERE. PARTICULARLY THE LACK OF OVERSIGHT , THE COACHES -- I READ THE WHOLE COMPLAINT TRANSCRIPT YESTERDAY. IT WAS MIND-BOGGLING. THAT ' S ONE CHANGE I REALLY HOPE TO SEE. SOME OF THESE SCHOOLS WILL BE TAKING A HARD LOOK AT THAT CONNECTION BETWEEN THE ADMISSIONS OFFICE AND THE COACH RECOMMENDATIONS FOR STUDENT ATHLETES. CHEATING ON TESTS -- I DON ' T THINK THAT WILL EVER GO AWAY COMPLETELY. THIS WAS PARTICULAR BREEZE BRAZEN. THEY TOOK ADVANTAGE OF THE ACCOMMODATIONS PROCESS FOR PEOPLE WHO HAVE DISABILITIES. I ' M SAD FOR THE PEOPLE WHO HAVE ACTUAL DISABILITIES AND REALLY NEED THAT PROCESS. THESE FAMILIES CLEARLY ABUSED THAT. THAT MIGHT BE A TRICKIER THING TO FIX BECAUSE THERE ' S FEDERAL LEGISLATION AROUND ACCOMMODATIONS FOR DISABILITIES. THERE ARE THINGS OPERATING HERE ON MULTIPLE TRACKS. THE GOOD NEWS IS I HAD GET TO SEE ANY ADMISSIONS OFFICERS IMPLICATED -- YET TO SEE ANY ADMISSIONS OFFICERS IMPLICATED. AT THE SAME TIME, THE STANDARD OPERATING PROCEDURE IS SUCH THAT THE SYSTEM WAS RIPE FOR ABUSE. I HOPE THEY REALLY DIG IN AND FIGURE OUT HOW TO FIX THIS. THEY DON ' T HAVE TIME TO BE FORENSIC INVESTIGATORS. THEY CANNOT GO END UP CHECK EVERY SINGLE THING -- AND DOUBLE CHECK EVERY SINGLE THING. BEING RANKED IN THE TOP 50 FOR WOMEN ' S TENNIS SHOULD BE EASY ENOUGH TO CHECK. THESE OFFICERS DON ' T HAVE TIME. CAROLINE: THE PERFECT STORM SHOWING HOW MUCH FOCUS IS PUT ON -- HOW ARE SCHOOLS LOOKING TO FOCUS ON DIVERSIFICATION IN A MORE HEALTHY MANNER? SO THAT YOU DON ' T HAVE TO BUY YOUR WAY IN? > > THAT IS A LOADED QUESTION AND A LONG CONVERSATION. THE VAST MAJORITY OF THE OFFICERS TAKE THAT SERIOUSLY. THEY DO TRY TO GET PEOPLE FROM A WIDE RIGHTY OF BACKGROUNDS. -- A VARIETY OF BACKGROUNDS. MANY WOULD BE SURPRISED HOW MUCH SPORTS FACTORS INTO ADMISSIONS -- IN THE HARVARD LITIGATION, WE SAW THAT RECRUITED ATHLETES HAVE AN 86% ACCEPTANCE RATE. PEOPLE DON ' T ASSOCIATE HARVARD WITH NICK SABAN TRADE THAT HIGH -- WITH AN ACCEPTANCE RATE THAT HIGH. AT THE END OF THE DAY, THESE ARE THE SCHOOLS ' PREROGATIVES. THEY ARE ALLOWED TO DO THAT. THERE ARE ETHICAL AND HONEST WAYS TO DO THAT, OF COURSE. SCARLET: THESE ARE PRIVATE UNIVERSITIES.

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College Bribery Scandal Highlights 'Broken' Admissions Process, Anna Ivey Says

Anna Ivey, founder of Ivey Consulting and former dean of admissions at University of Chicago Law School, discusses the sweeping criminal conspiracy that sought to help applicants win admission to elite schools. She speaks with Bloomberg's Scarlet Fu and Caroline Hyde on "Bloomberg Markets: The Close." (Source: Bloomberg)

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