Today Obama Used His Executive Powers To Push Student Loan Reform

I think Jake gets it.

Sorry Jake need to bring this to page 2.

I say they just take back the rule abotu bankrupcy

so when i grad i can just file for bankrupcy and clear my name.

hell, creditors make enough money. they can eat my 20k college debt easy

This is scary folks. This opens the door to more "side-stepping" congress and eventually will lead to a Hugo Chavez style dictatorship. And what is worse is that the media is complacent in this. Every time I turn on CNN I hear the talking heads say how Obama should just by-pass congress to get stuff done. He practically has his own cheerleading squad at CNN. I don't like this one bit and anyone with half a brain should be very worried.

Very few people will like this solution, and I'm sure everyone will call me a Communist.

But the ONLY way to solve this problem, is to forgive ALL debt. From the rich oil barons to the ghetto rats. Also, the National Debt needs to vanish, since it was created from thin air in the first place.

Currency needs to then be backed by SOMETHING so out of control printing never occurs again, and the Federal Reserve needs to be disbanded.

Then make it abundantly clear that from now on, banks AND borrowers will be responsible for their own lot. Borrow money you can't pay back, and you'll likely never be given another loan again. Loan money you know someone can't pay back? Well, then you'll lose that money for making a bad decision.

Loans are supposed to be a risk. Currently the US government takes the risk out of it for banks.

Nice

I PAID my way through college by working full time and going to school full time. I was exhausted, but I did it. Now these idiots get to go to school and have their massive debts forgiven.

Yeah real nice

Again, you seem to be forgetting a key contributor to the situation you describe.

Banks are in business to lend..if they do not lend then people complain that it is not fair. It is a no win situation as far as loans go for college unless the people stand up and take responsibility for their own debt and make smart choices. No one told these people to go out an get a loan. If they feel it is necessary to go to college ..then work for it. Pay as you go..or get better grades , an internship or save for it while you are living at home. I have a son who right now holds down a job and goes to college. He pays for his classes as he is going and has no student loans and I do not pay for his college. The choice is his and his alone. I help him out by having him stay at home and contribute by working around the house and picking up Milk and items he can afford to help out with. I do agree that no one should bail out the banks..that is part of the risk of handing out money for people to use.

A loan is by its very nature a risk. In the 90's, banks told colleges "Charge whatever you want, we'll loan it." College raised their rates 200-500%, and the banks kept their end of the bargain and began loaning the inflated amounts.

But the banks had a card they knew they could play when the bubble burst. They knew they had enough pull in the government, that would permit the banks to loan the government money to pay for their own bail out! Do you understand the significance of this?

This was a SCAM.

Last Edited by Jake101 on 10/26/2011 01:57 PM

So in other words...

Don't work today and you don't have to pay

Don't work tomorrow, so you don't have to pay at all....

Just let everyone else support your sorry welfare a-z!!!

"reform" = NWO fake solution

Time to arrest the illegal alien globalist traitor and mass murderer war criminal.

Either there is some sort of massive brainwashing I somehow wasn't effected by, or the majority of people in this thread have their eyes closed.

THIS WAS A SCAM. You want to solve the problem? Stop subsidizing the banks! You're mad that you have to pay for other's educations, then you should be mad at the BANK who is making you pay for THEIR OWN mistakes.

The bum borrowers aren't trying to make you pay for their loans, the BANK who made the mistake is.

Last Edited by Jake101 on 10/26/2011 02:01 PM

like this

I'll be happy my debt is forgiven. Dont cry you had to work through school

who gives a shit?

Your last paragraph is the most ignorant thing I have ever heard. Finally someone in government does something useful that eases the debt situation of post-secondary graduates and you go and curse it. In many developed countries, getting a college or university degree doesn`t cost you a dime, yet in canada it costs me 10,000 $ a year for university tuition.

Obviously you have not spent time at any higher education facilities.

Yes they signed contracts on their own volition. That's a trivial point. What's relevant is that we as a society have the power to wipe out those personal debts if we want to, which makes the most relevant question this: Is it in our best interest as a society to do so?

As an analogy: yes pot is illegal, and yes a bunch of otherwise good citizens are lawfully in jail solely for personal pot use...but the real question is whether we as a society should change the law and in so doing free those people from their dungeons.


So here's one line of thinking for why we should socialize post-secondary education (just like elementary and secondary education are already socialized):

It's in our best interest for elementary education to be available to all, and society justifiably pays for it.

It's in our best interest for secondary education to be available to all, and society justifiably pays for it.

We have now progressed as a society to the point where it's in our best interest for college education to be available to all, and society should justifiably pay for it.

(So basically, this argument just extends the same reasoning that is already widely accepted.)

I know trailer trash that took out student loans and only went to class long enough to get the money.
Now they still don't have a job, spent the money on beer and meth, and continue to leech.

Ohh like forgiving all loans ? How about I go out an buy a Bentley and ask for a loan forgiveness? Isn't that a SCAM?

It is the same thing..no one told these people to take out the loans

I agree with all of this, except that before you just forgive all debt you would need something in place, say treasury issuing non interest bearing notes for operating expenses.

Banks all carry public and private debt as assets on their balance sheets, wipe out the debt and wipe out all assets from their ledgers. Banks provide the currency which everyone uses in the exchange of their goods and services, it provides credit for the goods production process, i.e. bills of credit.

So, you need something in place before you pull the plug, personally I think gold and silver would work just fine but that's just me.

The banks have money, which they CHOSE to OFFER to someone. They offered people they KNEW couldn't pay it, because they knew people like YOU would be forced to foot the bill.

Because of that, we've spent upwards of 20 Trillion (Tarp, bail out, etc) borrowing money from banks, to hand right back to the same banks that loaned it to both the original borrower and the government.

Then, the banks charge YOU and ME to pay for the original loan of the student AND the loan they gave the government to give right back to themselves to "bail them out."

Are you following me?

Last Edited by Jake101 on 10/26/2011 02:13 PM

Yes, you have to have something to fill the void. And perhaps Gold and Silver would be viable.

That is correct..they choose to offer. However these people Choose to take it.
I choose to offer my goods for sale and own my business to make money.. That does not mean that I twist anyone's arms to buy my goods.
I get offers for credit all the time...I CHOOSE to not accept them


People need to own up to their own bad choices ..if you eat too much you get fat..don't blame the restaurant because you CHOOSE to eat too much.

Last Edited by Mooshi Kin on 10/26/2011 02:20 PM

This statement

“So here's one line of thinking for why we should socialize post-secondary education (just like elementary and secondary education are already socialized):

It's in our best interest for elementary education to be available to all, and society justifiably pays for it.

It's in our best interest for secondary education to be available to all, and society justifiably pays for it”

This is one of the major things wrong with our society. The federal government does not have the right to be involved in education this is clearly a role for the states.

Its people like You that have brought us into this mess with the mindset of “its in our best interest”

When does your “justifiably pay for it” stop? With education? With housing? With medical care? With retirement?

Listen to me carefully. The bums who took money they couldn't pay back are not passing legislation to make you pay for their loan. The banks, who lobby, ARE. The BANK is making you do it. This was a scam from the get-go. I can't make this any more simple.

The banks PURPOSELY made bad loans, so that the government (IE. YOU) would borrow the money from them to give back to them in the form of a bail out.

Last Edited by Jake101 on 10/26/2011 02:24 PM

Not to support this EO, but something has to give. The cost of a quality education, one that will maintain our standard of living and keep Americans competitive in the world, is unsustainable. The costs have to come down somehow eventually or else only the uber wealthy will be able to afford the necessary education to make a good living -- the rest of the population will be left in poverty -- wages are not keeping up with the cost of living, including education.

[link to www.youtube.com]

once again..NO ONE made them go out and take that money

or do you say that happened too? Many bad Loans IE home loans were taken out because people cried it was not fair that they could not OWN a home. Many loans were taken out by people who believed that they Deserved it and it was not fair..after all they were entitled to it!

what part do you not follow? As far as bailouts I say no they should not get them

Last Edited by Mooshi Kin on 10/26/2011 02:31 PM

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