It's About Liberty: A Conservative Forum
Topics => Economy => Topic started by: BMG on July 21, 2012, 07:45:38 PM
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LINK (http://online.wsj.com/article/SB10000872396390444097904577537390098445700.html)
The Obama administration urged Congress to make it easier for people to discharge a portion of certain student debt by filing for bankruptcy protection.
The recommendation, in a report by the Education Department and the Consumer Financial Protection Bureau, wouldn't affect the vast majority of student debt, which is issued by the federal government. It would apply only to the roughly $150 billion, or 15% of total outstanding student debt, issued by private lenders such as SLM Corp.'s Sallie Mae and Wells Fargo & Co.
Two things.
First:
I find it interesting that the federal government supports the discharging of non-federal student loans through bankruptcy. 'Go ahead and renege on your debt to private entities, but you better not even think about it concerning the federal government!'.
Second:
So we have the federal government encouraging people to renege on their privately provided student loan debt even though they willingly entered into the agreement knowing full well what the debt would be? WTH is the difference between that and simply walking into a university admissions office and demanding that you get a cut rate for their services noting that they are not allowed to decline your demand?
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In the main, not a gawdamn thing.
The Feds are using a backhanded method of protecting taxpayer money in this regard, but private lenders have investor money to consider; evidently investor money is regarded by the Feds as worthy of less protection. The taxpayer money is protected not for the taxpayer, but to prevent any of it slipping out of the Looters' grasps.
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In the main, not a gawdamn thing.
The Feds are using a backhanded method of protecting taxpayer money in this regard, but private lenders have investor money to consider; evidently investor money is regarded by the Feds as worthy of less protection. The taxpayer money is protected not for the taxpayer, but to prevent any of it slipping out of the Looters' grasps.
But, but, it's for the those poor students hoodwinked into education loans by those unscrupulous bankers.
Alright then, they default, the insurance company for the loan must make good on them further screwing the owners of those companies( we all know they're made of money anyway) and thus the stockholders who now have lost their earned money thanks to the generosity of the benevolent government.
How much longer will the little people tolerate this robbery?
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The little people don't understand it.
It's banks and government in cahoots,
screw 'em both ha ha ha.
They never know what's biting them
in the ass.