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Todd Schultzleaving it in there serves no useful puropse that I can see, and can simply lead to all this utter speculation, and potentially claims of reliance? Did he or didn't he; what kind of degree, what level of degree, etc.
Hey what's done is done, and if he intended to mislead with that in his bio or it had the effect regardless, then perhaps some consequences will flow from that. But I see no harm in removing it now, nor do I see the removal as some sort of "ethical violation" by itself.