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I don't like or favor the idea of government bailouts for anyone. However, I must say that if we bail out a multi-billion dollar company so that the CEO who made bad decisions can float out of town with his golden parachute, then I think it's only fair for students who made bad decisions to think that they too are entitled to a bailout.
Fine. One idiot move deserves another.
I'd love a vacation to Tahiti. If I put it on my credit card now and then say it was a bad decision because Tahiti didn't live up to my expectations and it rained every day who do I stick with the payment?
Wipe this industry out. Higher education should be predominantly paid for via taxation. We would all benefit from that because it would level the playing field and lead to a more equal, stable society in which financial restraints or the fear or borrowing massive sums of money don't deter people from going to university, even much later in life to change careers. Look at it another way, now does it help the economy to have so many people saddled with student loan debt and enormous repayments?
If I put it on my credit card now and then say it was a bad decision because Tahiti didn't live up to my expectations and it rained every day who do I stick with the payment?
Actually, credit card debt is something you could take before a judge in a traditional, straightforward bankruptcy proceeding. It doesn't matter what you spent it on (unless, oddly enough, you did some kind of balance transfer involving your student loans, in which case the judge might rule that to be "fraudulent"...)
For example, you could take out a cash advance on a credit card and use the cash on hookers, and you'd have more bankruptcy protections for that money than you would have with even a private student loan that is not backed by the government.
Actually, credit card debt is something you could take before a judge in a traditional, straightforward bankruptcy proceeding. It doesn't matter what you spent it on (unless, oddly enough, you did some kind of balance transfer involving your student loans, in which case the judge might rule that to be "fraudulent"...)
For example, you could take out a cash advance on a credit card and use the cash on hookers, and you'd have more bankruptcy protections for that money than you would have with even a private student loan that is not backed by the government.
I don't like or favor the idea of government bailouts for anyone. However, I must say that if we bail out a multi-billion dollar company so that the CEO who made bad decisions can float out of town with his golden parachute, then I think it's only fair for students who made bad decisions to think that they too are entitled to a bailout.
In my view, this is the exactly what's wrong with the theory of bailouts. We, as Americans, now seem to harbor the view that "since they got it, we should to." Instead, we need to put a final nail in the bailout coffin once and for all.
No one gets bailed out ever again. It has corrupted our whole nation into believing government should save us from ourselves. It has to stop.
Wipe this industry out. Higher education should be predominantly paid for via taxation. We would all benefit from that because it would level the playing field and lead to a more equal, stable society in which financial restraints or the fear or borrowing massive sums of money don't deter people from going to university, even much later in life to change careers. Look at it another way, now does it help the economy to have so many people saddled with student loan debt and enormous repayments?
If these "kids" went to college for 4-5 years then they ENTERED college when the economy tanked and watched it stay there for going on 5 years.
Did they not read the news for 5 years thinking everything was peachy keen and rosy in the job market ?
In my view, this is the exactly what's wrong with the theory of bailouts. We, as Americans, now seem to harbor the view that "since they got it, we should to." Instead, we need to put a final nail in the bailout coffin once and for all.
No one gets bailed out ever again. It has corrupted our whole nation into believing government should save us from ourselves. It has to stop.
But it won't...the disease will spread. I think this issued will become the next "campaign promise" to secure some votes.
The governments of the world get their money from private central banks and are charged interest when they buy the bonds to get the money.
"The taxpayer is NOT let off the hook here."
I do like most of the things you post. Nothing personal.
The tax payer is not on the hook. Your taxes, income tax, is only used to pay interes on the debt. Nothing else.
"That is money borrowed from the Federal Government that will NOT be repaid if allowed to be "wiped" during bankruptcy."
So what? The debt is fraud. All the "debt" should be wiped out since it's mathematically impossible to pay back.
Before you can borrow money from the Federal Government it has to be created by "them".
"That IS a bailout"
We've been given bailouts since 1913 to "them". Payback is a b**ch!!!
Consider it a down payment for the murder of at least 2 presidents.
Get educated about MONEY!!!!
To be honest, most of this is just plain malarky. Getting "educated" about money will do absolutely nothing to stop the nations of which own a large portion of our debt from expecting repayment. Want a war with China and other debtors? Tell them their investment has been "wiped out" and can never expect to be repaid in any form due to some far-fetched monetary policy that your types throw around pretty aimlessly.
You're not being realistic in any sense of the word. The full faith and credit of the United States of America still has some value, no matter how worthless you think the actual paper is.
To be honest, most of this is just plain malarky. Getting "educated" about money will do absolutely nothing to stop the nations of which own a large portion of our debt from expecting repayment. Want a war with China and other debtors? Tell them their investment has been "wiped out" and can never expect to be repaid in any form due to some far-fetched monetary policy that your types throw around pretty aimlessly.
You're not being realistic in any sense of the word.
Want a war with China and other debtors?
That's going to happen anyway my friend. That's why they want control of the money to set WWIII up. The whole world financial system needs to be reset with fair trade laws and each country issuing their own debt free money with no interest attached. Just like Lincoln and Jackson did.
They never had any "investment". Don't you see that. The whole world economy is smoke and mirrors. On purpose!!!
Whatever you here on T.V., read in mainstream history books in school, or were taught in government civics class you need to forget when it comes to geo-political issues. That's not how the real world operates. They're fairy tales for children (the serfs). Just as Santa Clause and the Easter Bunny is to a child.
WWIII was planned over 100 years ago. The only way to stop it is to do what people like me say. But I know that's not going to happen.
Last edited by CK78; 02-23-2012 at 08:46 PM..
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