birdog1960 Posted November 4, 2014 Share Posted November 4, 2014 What in the world are you talking about? How does Fed buying bonds through QE equate to forgiving consumer debt to private institutions? Why should an individual owing long term unsecured debt pay the same interest rate as an overnight borrowing by a multi-billion dollar company that posts collateral for the debt? Has anyone ever mentioned that you're a buffoon when it comes to finance? it relates to priorities. a trillion dollars is the same amount if applied to health care, bank bailouts, propping up a badly injured economy at the hands of the same financial institutions benefitting from the intervention or student loans (yes, the same term applied to bailout funds).. and many universities aren't private institutions. in fact, i would suggest that all for profit univ be exempt from federal student loan programs while public universities be more heavily subsidized to obviate the need for many student loans to them from the start. Link to comment Share on other sites More sharing options...
GG Posted November 4, 2014 Share Posted November 4, 2014 it relates to priorities. a trillion dollars is the same amount if applied to health care, bank bailouts, propping up a badly injured economy at the hands of the same financial institutions benefitting from the intervention or student loans (yes, the same term applied to bailout funds).. and many universities aren't private institutions. in fact, i would suggest that all for profit univ be exempt from federal student loan programs while public universities be more heavily subsidized to obviate the need for many student loans to them from the start. You blithering buffoon. The loans aren't owed to universities, but to banks or to the US government (taxpayers) Link to comment Share on other sites More sharing options...
Rob's House Posted November 4, 2014 Share Posted November 4, 2014 I want to know what the special deal for the "rich and white" is. My loan payments start coming due next month and I could really use the white man's discount. I just can't find any info on it. Link to comment Share on other sites More sharing options...
IDBillzFan Posted November 4, 2014 Share Posted November 4, 2014 I want to know what the special deal for the "rich and white" is. My loan payments start coming due next month and I could really use the white man's discount. I just can't find any info on it. Too bad you're not in California. Whites are a minority here, so we should be getting special treatment any minute now. Link to comment Share on other sites More sharing options...
DC Tom Posted November 4, 2014 Share Posted November 4, 2014 I want to know what the special deal for the "rich and white" is. My loan payments start coming due next month and I could really use the white man's discount. I just can't find any info on it. Sorry, but you don't get the special "rich and white" rate. When we ran your genetic profile, we found some black DNA in your genome. Link to comment Share on other sites More sharing options...
KD in CA Posted November 4, 2014 Share Posted November 4, 2014 I want to know what the special deal for the "rich and white" is. My loan payments start coming due next month and I could really use the white man's discount. I just can't find any info on it. Jon Stewart should be able to tell you, he's well versed in "white privilege" Link to comment Share on other sites More sharing options...
Rob's House Posted November 4, 2014 Share Posted November 4, 2014 Sorry, but you don't get the special "rich and white" rate. When we ran your genetic profile, we found some black DNA in your genome. Does this mean I can use "the n-word" freely? Link to comment Share on other sites More sharing options...
birdog1960 Posted November 4, 2014 Share Posted November 4, 2014 You blithering buffoon. The loans aren't owed to universities, but to banks or to the US government (taxpayers) you shallow minded, knee jerk reactionary. my statement on for profit uni's doesn't require that the loans be owed to the uni. it requires that the uni's (and therefore students matriculating in them) not be eligible for govt student loans. yes, that's correct: student loans . yes, i have some experience with them after completing 13 years of post high school education. geez, i'd love to be getting the 7% i paid back on gsl's or the 12% for heal loans on my savings or checking accounts. but the banks always win and by a lot. Link to comment Share on other sites More sharing options...
GG Posted November 4, 2014 Share Posted November 4, 2014 you shallow minded, knee jerk reactionary. my statement on for profit uni's doesn't require that the loans be owed to the uni. it requires that the uni's (and therefore students matriculating in them) not be eligible for govt student loans. yes, that's correct: student loans . yes, i have some experience with them after completing 13 years of post high school education. geez, i'd love to be getting the 7% i paid back on gsl's or the 12% for heal loans on my savings or checking accounts. but the banks always win and by a lot. You were talking about loan forgiveness, not how the system should be changed. But good luck getting Dems to agree to change the feeder system that indoctrinates drone thinkers for the left. Link to comment Share on other sites More sharing options...
KD in CA Posted November 4, 2014 Share Posted November 4, 2014 you shallow minded, knee jerk reactionary. my statement on for profit uni's doesn't require that the loans be owed to the uni. it requires that the uni's (and therefore students matriculating in them) not be eligible for govt student loans. yes, that's correct: student loans . yes, i have some experience with them after completing 13 years of post high school education. geez, i'd love to be getting the 7% i paid back on gsl's or the 12% for heal loans on my savings or checking accounts. but the banks always win and by a lot. The banks always win by a lot? These would be the same banks that fronted the cost to educate you into such an idiot? Oh boo-hoo....I should get anything I want and it shouldn't have to cost me anything!!! Link to comment Share on other sites More sharing options...
birdog1960 Posted November 4, 2014 Share Posted November 4, 2014 (edited) The banks always win by a lot? These would be the same banks that fronted the cost to educate you into such an idiot? Oh boo-hoo....I should get anything I want and it shouldn't have to cost me anything!!! what, no sympathy for the lack of white man aid programs? oh, and the banks may have "fronted the cost" but the gov't guaranteed the loans while lending them that same monet y at a fraction of the end borrowers cost.. another can't lose gov't program benefitting the banks. Edited November 4, 2014 by birdog1960 Link to comment Share on other sites More sharing options...
GG Posted November 4, 2014 Share Posted November 4, 2014 The banks always win by a lot? These would be the same banks that fronted the cost to educate you into such an idiot? Oh boo-hoo....I should get anything I want and it shouldn't have to cost me anything!!! Yes, they won with a 20% industry contraction. Let's see if higher ed can match that. Link to comment Share on other sites More sharing options...
keepthefaith Posted November 4, 2014 Share Posted November 4, 2014 Once again the big bad private sector is to blame. People borrowed money to get a college education under the assumption that they would get a good job. Now the greedy private sector which is practicing cost control in a slow economic period is choosing not to hire people because they put a higher priority on making a profit than they do in performing their civic duty to hire more people. Link to comment Share on other sites More sharing options...
TPS Posted November 4, 2014 Share Posted November 4, 2014 What's a trillion between friends? The bank bailout was a temporary loan to restore market liquidity and confidence. Every bank that got a bailout, paid it back and then some. Even AIG paid back. The student loan forgiveness is a totally different animal. But why should you bother with distinctions of totally different things, even though they may have similar sounding words? You are confusing two bailouts. The Treasury (under Paulson) made loans to the banks to fortify capital, and those were paid back. The Fed provided both liquidity loans AND bought most of the bad **** from the banks at face value--those were not loans. In fact, for the first time in its history, the Fed started paying interest on the bank reserves that were increased by the Fed's purchase of that bad ****. Eventually the Fed sold that **** for pennies on the dollar. Fortunately, since they own the printing press, they can lose money until the cows come home... So, regarding the student loans, we could easily change it to the same animal if students defaulted on the loans they have from private banks, then have the Fed buy those loans from the banks at face value... Link to comment Share on other sites More sharing options...
GG Posted November 4, 2014 Share Posted November 4, 2014 You are confusing two bailouts. The Treasury (under Paulson) made loans to the banks to fortify capital, and those were paid back. The Fed provided both liquidity loans AND bought most of the bad **** from the banks at face value--those were not loans. In fact, for the first time in its history, the Fed started paying interest on the bank reserves that were increased by the Fed's purchase of that bad ****. Eventually the Fed sold that **** for pennies on the dollar. Fortunately, since they own the printing press, they can lose money until the cows come home... So, regarding the student loans, we could easily change it to the same animal if students defaulted on the loans they have from private banks, then have the Fed buy those loans from the banks at face value... I am not confusing the two bailouts. The first bailout you're referring to was for the financials. The second one was the facade of Obama's empty economic policy. Two totally different animals. Just because the banks benefited from both doesn't mean they should be thought of in the same lens. Link to comment Share on other sites More sharing options...
TPS Posted November 4, 2014 Share Posted November 4, 2014 I am not confusing the two bailouts. The first bailout you're referring to was for the financials. The second one was the facade of Obama's empty economic policy. Two totally different animals. Just because the banks benefited from both doesn't mean they should be thought of in the same lens. Regarding the second one, you'll have to expand on what that empty rhetoric means. My point was that the bailouts were 2 different things; in fact, the Treasury "invested" in the banks via preferred shares. Regardless, it is quite easy to perform a bailout of student loans that is equivalent to the Fed's bailout of the banks. Link to comment Share on other sites More sharing options...
GG Posted November 4, 2014 Share Posted November 4, 2014 Regarding the second one, you'll have to expand on what that empty rhetoric means. My point was that the bailouts were 2 different things; in fact, the Treasury "invested" in the banks via preferred shares. Regardless, it is quite easy to perform a bailout of student loans that is equivalent to the Fed's bailout of the banks. Preferred shares were simply a funding mechanism for the stabilizing liquidity. It could have been common equity or some firm of debt. The second part was not a bailout of the banks liquidity, but to try to stimulate economic growth, which is the linchpin of Obama's economic plan. That's why it's disingenuous to say that the second part is a bailout of the banks. They're just the main beneficiaries of a craptastic economic plan. Link to comment Share on other sites More sharing options...
Dante Posted November 4, 2014 Share Posted November 4, 2014 College has become the biggest racket in the country. I figure we're a couple years away from the government wiping all the debt. I've wondered the last few years why university gets a free pass on their whacked out tuition's. I compare it to other business endeavors. Unlike manufacturing for example there is almost no capital investment required once they have the university actually built. No constant buying and upgrading of equipment. Certainly no R&D to remain competitive. No investment in inventory. Everyone just accepts it because that's just the way it is. I guess when getting government loans are so easy to get that inflates the prices. Just like the housing bubble. Link to comment Share on other sites More sharing options...
DC Tom Posted November 4, 2014 Share Posted November 4, 2014 I've wondered the last few years why university gets a free pass on their whacked out tuition's. I compare it to other business endeavors. Unlike manufacturing for example there is almost no capital investment required once they have the university actually built. No constant buying and upgrading of equipment. Certainly no R&D to remain competitive. No investment in inventory. My alma mater, all the tuition goes towards staff salaries and benefits. Other expenses are covered by income from financial assets (i.e. the endowment - and I believe that's coincidental, not budgeted. The numbers just happen to work out that way.) It works out to about 2 students to support one employee (professor, administrator, and any other staff - given that other staff includes a lot of low-paid staff such as janitorial, groundskeeping, or security, that tells you how much the professional staff makes.) And while there's still a lot of capital investment, it tends to be financed through bond issues. Link to comment Share on other sites More sharing options...
birdog1960 Posted November 4, 2014 Share Posted November 4, 2014 I've wondered the last few years why university gets a free pass on their whacked out tuition's. I compare it to other business endeavors. Unlike manufacturing for example there is almost no capital investment required once they have the university actually built. No constant buying and upgrading of equipment. Certainly no R&D to remain competitive. No investment in inventory. Everyone just accepts it because that's just the way it is. I guess when getting government loans are so easy to get that inflates the prices. Just like the housing bubble. . running a major university is incredibly expensive. competing for the worlds sharpest minds isn't cheap. the infrastructure is amazingly expensive. and let's not forget that uniquely american collegiate enterprise: big time college sports.. even with the big money sports generating income, athletic depts often net cost big money….which is ridiculous. and there are plenty of targets besides college sports for change. most undergraduate education can be done online. just keep the for profit shysters away. much less overall infrastructure is needed. housing, food, heating, security etc. if you want that coddled, rite of passage experience, you'll pay thru the nose for it. many we'll find it's not worth it. it's already happening and it's a good thing. Link to comment Share on other sites More sharing options...
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