Thursday, June 18, 2009
Sallie Mae Is Satan
End your bondage in these awful cockroach-ridden sweatshop basements by lobbying for student loan reform.
Check out the following posting I pulled up on JD Underground. How succinct and so accurately put! Sure, there is a lot of trash and nonsense on these boards, but a jewel like this makes it all worth it:
"First of all the banks... disadvantaged? Who gives a fuck? The banks never loaned out their own money. The lenders are lending out free money from the FED. When people default banks make a FREE 30k on the default which the GOVERNMENT Guarantees. And on top of that they write off the losses...
And let's be honest, if corporations / lenders do go under.. they can go BANKRUPT. They can start over.... Which is something that student loan borrowers can NOT do. The people who work at a corporation that is not ran well can just close up shop and start a new corporation, or go through BANKRUPTCY and reform the exact same corporation without their debt just like a number of major corporations are doing RIGHT NOW here in America, or in the worst case scenario the people who poorly ran that corporation into the ground can go get a job some place else.
The problem is that student loan borrowers can NEVER escape from the problem. That's just UnAmerican. The fees and penalties which are stacked on top of their debt, by lenders who have never really done anything (except fill out some forms for the Government) are taking advantage of other people's hard luck.
Talk about a free lunch. I guess a free lunch is fine if you are a corporation,.... but a free lunch for the middle class well that is EVIL. What a bunch of hypocrisy.
How about this pay your fucking taxes and have a real education and health care system like they do in Europe instead of forcing young people to take out massive loans for college AND THEN putting them into default and making a ton of money of their hardship when their business fails. How about that huh?
And I don't think anyone is talking about a free ride anyway. What we want is the right to go bankrupt... a right which EVERY bank and corporation in America has. It's also a right which EVERY American had up until 1998....
Our country worked fine until 1998. It's a fucking sewer today. The mantra of personal responsibility for the MIDDLE CLASS (but not for corporations) has been an abject and total failure in the real world. It might work fine on Fox News, but it does not work on Main Street.
People need to be able to go bankrupt just like every corporation in America can. Bankruptcy allows people to get back on their feet and start over. That's the American way. Risk makes the system work. Without risk the system fails.
If you really want personal responsibility start at the top. Make corporate executives PERSONALLY responsible for losses of the corporation and make it impossible for them to go bankrupt. Turn them into slaves if the corporation fails. I bet the idea of bankruptcy wont be seen as a free ride then."
Or sentence them to ten years in the hellish basements of their biglaw whore counterparts!
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