examine the federal student aid programs. After an 18-month investigation and a series of hearings, the Subcommittee concluded that the student loan program, "particularly as it relates to proprietary schools, is riddled with fraud, waste and abuse." Following on the Subcommittee's work, Congress adopted amendments to the Higher Education Act that contributed to the closure of hundreds of schools. The reforms included cutting off federal aid at schools with high default rates; prohibiting the use of commission-based sales agents in recruiting; and limiting federal funding to no more than 85 percent of any for-profit college's revenue. Senator Nunn, as chair of the Permanent Subcommittee, also worked to include reforms of state oversight of colleges participating in the federal aid programs. Those reforms were adopted but were subsequently repealed before being implemented. Tenures of Collins, Levin, and Coleman In January 1997 Republican Senator Susan Collins of Maine became the first woman to chair the Permanent Subcommittee on Investigations. Her Chairmanship was also notable in that she held the Senate seat of former Maine Senator Margaret Chase Smith, an opponent of Senator McCarthy. Senator John Glenn of Ohio became Ranking Member. Upon Senator Glenn's retirement from the Senate, Senator Carl Levin became Ranking Member in 1999. In June 2001, when the Democrats resumed control of the Senate, Senator Levin assumed the chairmanship of the Subcommittee until January 2003 when Senator Norm Coleman assumed the Chairmanship. When the Democrats took control of the Senate in January 2007, the chairmanship reverted to Senator Levin. Oil-for-Food Program Hearings In December 2004, Coleman called for Secretary-General of the United Nations Kofi Annan to resign because of the "UN's utter failure to detect or stop Saddam's abuses" in the Oil-for-Food Programme and because of fraud allegations against Kojo Annan, his son, relating to the same program. In May 2005 the subcommittee held Oil-for-Food Program Hearings to investigate abuses of the Oil-for-Food program, including oil smuggling, illegal kickbacks and use of surcharges, and Saddam Hussein's use of oil vouchers for the purpose of buying influence abroad. These hearings covered certain corporations, including Bayoil Inc., and Russian politician Vladimir Zhirinovsky. The hearings received significant media attention for the combative appearance of British politician George Galloway of the Respect Party, in which he forcefully rejected the allegations. Wall Street and the Financial Crisis On April 13, 2011 the Committee released its report on Wall Street and the Financial Crisis: Anatomy