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Today Obama Used His Executive Powers To Push Student Loan Reform

 
Cheops

User ID: 1341645
United States
10/28/2011 12:11 PM

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Re: Today Obama Used His Executive Powers To Push Student Loan Reform
...


Is this what you are talking about and if so please tie in your thoughts?

The American Recovery and Reinvestment Act of 2009: Information Center
[link to www.irs.gov]
 Quoting: SilverPatriot


Hear me out.

First off, remember if I loan you 20 dollars, with the final term value of the loan (assuming you took the full term to pay it back) of 80 dollars, the actual value of that loan is ONLY 80 bucks IF you pay it back.

Second, if I loan someone 20 bucks, then when he pays it back, it will be a VERY hard sell to get the government to pay me back the full term of 80 bucks UNLESS I can find a way to make it the government's fault.

So, the banks lobbied like madmen for the government to "force them" to loan to everyone, so that they had legal recourse to claim "It's not my fault!" when SHTF.

Specifically, they were able to sell and recoup loan packages for their FINAL term value, instead of actual value. It was a gigantic scam, that they NEVER would have done had they not know for 100% fact they would be immediately given the full term value for everything. They spent 100 billion, and then received trillions and trillions in return.
 Quoting: Jake101


State your source
 Quoting: SilverPatriot


My source is that... it happened? What do you think the bailouts were?
 Quoting: Jake101


You're making it up as you go along. The banks did not lobby for the community reinvestment act. They were actively opposed.
Cheops

User ID: 1341645
United States
10/28/2011 12:18 PM

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Re: Today Obama Used His Executive Powers To Push Student Loan Reform
So you're a contractor for G.E?
 Quoting: Cheops


Yes

ETA: That's not something I've hid, either. Just because I don't approve of how they conduct business, I've never denied working for them. Even in the thread you quoted.
 Quoting: Jake101





I work for the largest bank in the world. We lobbied for it, so we could qualify for a bailout. Put blame where it belongs.
 Quoting: Jake101


So this statement isn't true at all.

You don't exactly work for the largest bank in the world.
SilverPatriot

User ID: 1607242
United States
10/28/2011 10:17 PM
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Re: Today Obama Used His Executive Powers To Push Student Loan Reform
...


Is this what you are talking about and if so please tie in your thoughts?

The American Recovery and Reinvestment Act of 2009: Information Center
[link to www.irs.gov]
 Quoting: SilverPatriot


Hear me out.

First off, remember if I loan you 20 dollars, with the final term value of the loan (assuming you took the full term to pay it back) of 80 dollars, the actual value of that loan is ONLY 80 bucks IF you pay it back.

Second, if I loan someone 20 bucks, then when he pays it back, it will be a VERY hard sell to get the government to pay me back the full term of 80 bucks UNLESS I can find a way to make it the government's fault.

So, the banks lobbied like madmen for the government to "force them" to loan to everyone, so that they had legal recourse to claim "It's not my fault!" when SHTF.

Specifically, they were able to sell and recoup loan packages for their FINAL term value, instead of actual value. It was a gigantic scam, that they NEVER would have done had they not know for 100% fact they would be immediately given the full term value for everything. They spent 100 billion, and then received trillions and trillions in return.
 Quoting: Jake101


State your source
 Quoting: SilverPatriot


My source is that... it happened? What do you think the bailouts were?
 Quoting: Jake101


Your response is as intelligent as saying “just because I said so” and your logic defies rational explanation and you have no understanding of the bailouts.





GLP