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My Apologies: The White House is Always the Last to Know

Jim3645 Wrote: Jul 31, 2012 1:58 PM
Wells Fargo gets to charge college students 10.5 percent fixed interest or 6.5 percent interest on variable rate student loans so they can pay their fines and pay back the government (our) money they still owe from TARP ( I went through this fiasco this weekend so I know it's true). At the same time they get their ZERO percent rate from the government and the central banking system i.e. the government. This is EXTORTION of the insidious kind, our criminal enterprise i.e. our government is behind it all. They say they are for the middle class while they stick a knife in our backs.
SpaceVegetable Wrote: Jul 31, 2012 8:05 PM
"less fortunate" implies that there is some sort of luck involved. Ask most successful career people how much of their success depends upon luck and how much is hard work and sacrifice (like taking all those hard classes in school instad of coasting along with stuff like women's studies or art history)
PhillupSpace2 Wrote: Jul 31, 2012 4:17 PM

There are a couple of inequities here (typical of anything Government mandated).

1) While banks can get their money from the Fed for zero interest they should pass along most of that to the Student loans. A borrowing cost plus 2% is an adequate mark-up in this case.

2) Students who avoided all the hard subjects in K-12 should not borrow 60 thousand bucks (just because they can) to pursue an undergraduate degree in Co-ed Cooking!!!

3) It is a foregone conclusion that these students, having received the additional schooling, havin enhanced their education, will therefore earn more than the general public who are the taxpayers. Student debt should not be dumped on these less fortunate!

Dear Fannie Mae,

It’s not you; it’s them.

The other day I wrote in a column, The Reddest of All Presidents, that a “host of economists, who always seem to be the last to know, have cut GDP growth forecasts recently, in light of rising unemployment and falling manufacturing output. The latest to see the light at the end of the tunnel in its proper context as a speeding train coming right at us is Fannie Mae’s chief economist, Doug Duncan. Fannie Mae always seems to be the last-est of the last to know.”

Please accept my apologies, Mr....

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