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Author Topic: Obama's Decoy Bailout... To Distract You from the Real Crisis  (Read 2485 times)

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Offline BlueStateSaint

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Obama's Decoy Bailout... To Distract You from the Real Crisis
« on: July 30, 2012, 10:50:59 AM »
I picked this up courtesy of Drudge.  Gerri Willis is a good writer, too.

Quote
Obama's Decoy Bailout... To Distract You from the Real Crisis

Posted by Gerri Willis | July 26, 2012

Warning: Bailout alert!
 
The Obama administration has decided it's time to spread the wealth some more, just in time for the election.
 
Who's getting it this time? Broke college grads.
 
Obama's team wants these borrowers to be able to wipe out their private student loans through bankruptcy.

Again the administration is forgetting there's no such thing as a free lunch.

The rest is here: http://www.foxbusiness.com/on-air/willis-report/blog/2012/07/26/obamas-decoy-bailout-distract-you-real-crisis#ixzz227aykPrO

She goes into how one school has actually cut its' fees, and the benefits that the school now enjoys because of it.
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Offline Kyle Ricky

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Re: Obama's Decoy Bailout... To Distract You from the Real Crisis
« Reply #1 on: July 30, 2012, 10:54:16 AM »
Hmmm .... Well good luck with that. There aren't too many private college loans out there anymore. They are almost government issued. Especially with the government start fed loans and buying up all the private and transferring them to them. It happen to me, twice.
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Offline RightCoast

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Re: Obama's Decoy Bailout... To Distract You from the Real Crisis
« Reply #2 on: July 30, 2012, 11:02:55 AM »
Quote from: Kyle Ricky on July 30, 2012, 10:54:16 AM
Hmmm .... Well good luck with that. There aren't too many private college loans out there anymore. They are almost government issued. Especially with the government start fed loans and buying up all the private and transferring them to them. It happen to me, twice.

A friend of mine was notified last week that his federal student loan was now administered by a private company...coincidence??
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Offline Kyle Ricky

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Re: Obama's Decoy Bailout... To Distract You from the Real Crisis
« Reply #3 on: July 30, 2012, 11:19:57 AM »
Quote from: RightCoast on July 30, 2012, 11:02:55 AM
A friend of mine was notified last week that his federal student loan was now administered by a private company...coincidence??

That is strange. Unless a private company bought his loan out, which is possible. Who did he have it through?

That kinda leads me to think that they may be making all them private so people can put them on their bankruptcy.
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Offline thundley4

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Re: Obama's Decoy Bailout... To Distract You from the Real Crisis
« Reply #4 on: July 30, 2012, 11:24:27 AM »
Quote from: Kyle Ricky on July 30, 2012, 11:19:57 AM

That kinda leads me to think that they may be making all them private so people can put them on their bankruptcy.

Government loans students money, then government sells loans to private banks, then allows students to file bankruptcy on student loans.  Sounds like a good way to cause banks to fail.
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Offline Zeus

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Re: Obama's Decoy Bailout... To Distract You from the Real Crisis
« Reply #5 on: July 30, 2012, 11:28:14 AM »
Quote from: thundley4 on July 30, 2012, 11:24:27 AM
Government loans students money, then government sells loans to private banks, then allows students to file bankruptcy on student loans.  Sounds like a good way to cause banks to fail.

Doesn't matter who the loan is transferred to,the student is still bound by the original terms of the loan. Which precludes elimination through bankruptcy.
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Offline Kyle Ricky

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Re: Obama's Decoy Bailout... To Distract You from the Real Crisis
« Reply #6 on: July 30, 2012, 11:32:08 AM »
Quote from: Zeus on July 30, 2012, 11:28:14 AM
Doesn't matter who the loan is transferred to,the student is still bound by the original terms of the loan. Which precludes elimination through bankruptcy.

The thing with them in the past was that the government insured them for the private banks. And because of that, you weren't able to put them on the bankruptcy. So to make it where people can, they will have to stop insuring them. I don't look for that to happen.
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Offline Lacarnut

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Re: Obama's Decoy Bailout... To Distract You from the Real Crisis
« Reply #7 on: July 30, 2012, 11:33:16 AM »
Quote from: Zeus on July 30, 2012, 11:28:14 AM
Doesn't matter who the loan is transferred to,the student is still bound by the original terms of the loan. Which precludes elimination through bankruptcy.

That is supposed to be how it works but King Obama is going to try and change that.
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Offline Bad Dog

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Re: Obama's Decoy Bailout... To Distract You from the Real Crisis
« Reply #8 on: July 30, 2012, 11:45:59 AM »
Quote from: RightCoast on July 30, 2012, 11:02:55 AM
A friend of mine was notified last week that his federal student loan was now administered by a private company...coincidence??

They use private contractors to "administer" all sorts of things Tricare & Medicare for example. Hopefully cheaper than forming a new govt. agency.
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