Government to buy 6.8 billion in studen loans
 

http://www.nytimes.com/2008/11/21/bu...1&ref=business

Good way to teach these kids to depend on the government for everything. :disgust

its fucked up everyone who owes money to banks dont give a shit the media has been repeating all day that the banks screwed the consumer

people who have money and refuse to pay should be thrown in jail

did u actually take the time to read the article? its not about depending on the government,its about unfreezing credit.

Bad move. Moral Hazard.

def every move related to giving banks money is about unfreezing credit, the issue is people have stopped paying home loans and CC's even those who can

Are you suggesting that this is erasing $6.8 billion in existing student loan debts? If so, that's not how I read it. It's making sure that student loans are going to continue to be available. The "people" aren't depending on the government. The Banks are.

i agree with you 100 percent,people should pay if they can but I['ll test girls talked about depending on government and the article has nothing to do with that. I dont understand they gave these banks 350 billion to unfreeze credit and they arent doing that.Why isnt Hank pissing all over them? Im on the board of a small condo 28 units and we are suing a bunch for nonpayment and I see that growing.

yup banks are cutting everyones credit business and personal even those with great credit and long payment histories

GOOD, I have 3 degrees and I'm tired of paying fucking student loans

3 degrees and did you actually read the article? lol

Nice... So the government gets these loans gets the guys that can't pay them then pushes em into the military to pay off the debt?

Lets put Americas most educated on the front lines...


Sounds good, real good...

Are they buying these loans with Chinese money or some backup stash? The debt is just being pushed around. Nobody is buying anything.

The economy is a complete mess.

This is beginning to resemble a clusterfuck!

This was done to unfreeze credit in the market.

And if there was anything I want the government to buy up, it's these. Student loans are one of the safer loans out there. It's not like they are buying up homes that were highly overvalued. They will get their money back. Not to mention that it's bad for the entire country if kids can't go to college.

:2 cents:

The $700 billion dollar bailout for the banks was supposed to free up banks from lending too, that didn't do anything to stimulate loans really.
WG

If you do not understand this is a massive transfer of wealth you live in a closet. If you do not see this is a move to say "hey look the government will take care of you" you live in a closet.

the 750 billion was to be used to unfreeze credit and IT HAS NOT and IT WILL NOT. This is just more of the transfer.

This is fascism and I can not believe tony404 is for this much fascism

I can understand using the word socialism to describe the move, but fascism? How is this fascism?

You can't unfreeze imaginary things. Banks create money out of thin air for loans. If you deposit $100 into a bank the bank can then loan out $900. That $900 then goes to another bank and that bank can create $8100. That $8100 then gets deposited into another bank and that bank.... The Federal Reserve is a private bank. When congress okays lets say $700 billion dollars that $700 billion dollars can then be made into $6.3 trillion dollars. The government taking over these fake creation of loans mae then gives them the power to do exactly what someone here is suggesting, throw you in jail. What happens when there comes a time very shortly down the road when even more millions of people can't pay their mortgage. Don;t laugh they are proposing a law making people obligated for loans made on homes. Even though they get the home if you foreclose and they didn;t really have the money to lend you.