Nothing good comes from crony capitalism
In a statement from the White House this morning, the U.S. will be providing a $1 billion loan to Ukraine.
The numbers don’t suggest that the New York Attorney General is trying to help anyone but himself. You see, the State of New York has paid $176,991.15 to find each of 339 violations, assuming every violation would be provable in a court of law. It would be much more efficient just to give homeowners enough cash to get current on their homes.
Shortly before Congress enacted the Obamacare law in March 2010, then-House Speaker Nancy Pelosi famously said, "We have to pass the bill so that you can find out what is in it."
A trend has taken shape in Washington, and it has put our country on a devastating path towards potential fiscal ruin. The trend is characterized by an unsustainable penchant for spending money we don’t have.
We have a very easy solution for this scenario, which enterprising politicians might use to both ride to the rescue of distressed student loan borrowers while avoiding the moral hazard issue of encouraging other borrowers to strategically default on their student loans.
We know that the Obama Administration operates from a “culture of corruption,” now we see that there is also a culture of deception within the White House walls.