Another place we should be clawing back the $
https://www.nbcnews.com/news/us-news/dept-education-cancel-150-million-student-loan-debt-n947821
These schools took the cash and paid themselves and went under, I say all assets of the top should be clawed back to make it right.
Why do we keep letting "corporations" rape the country at will and the executives who walk away with sweet pensions and millions in ill gotten pay checks get to keep the assets?
These schools took the cash and paid themselves and went under, I say all assets of the top should be clawed back to make it right.
Why do we keep letting "corporations" rape the country at will and the executives who walk away with sweet pensions and millions in ill gotten pay checks get to keep the assets?
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quote:Originally posted by mogley98
https://www.nbcnews.com/news/us-news/dept-education-cancel-150-million-student-loan-debt-n947821
These schools took the cash and paid themselves and went under, I say all assets of the top should be clawed back to make it right.
Why do we keep letting "corporations" rape the country at will and the executives who walk away with sweet pensions and millions in ill gotten pay checks get to keep the assets?
Quite simple actually. It was the agreement, when the program was started. Just like -
Social Security
VA Medical Care
Federal Telephone Excise Tax
American Indian Treaties
ATF rulings
US Auto Bailout
Come to think of it, I guess they do it because that is the way they have always done it. [:(!]0 -
quote:Originally posted by mogley98
https://www.nbcnews.com/news/us-news/dept-education-cancel-150-million-student-loan-debt-n947821
These schools took the cash and paid themselves and went under, I say all assets of the top should be clawed back to make it right.
Why do we keep letting "corporations" rape the country at will and the executives who walk away with sweet pensions and millions in ill gotten pay checks get to keep the assets?
I would assume that some efforts are being made to do this.
The bigger question, IMO, is why are the tax payers on the hook for the decisions made by those who took out the loans?
These loans are assets of the college that need to be included in the bankruptcy proceedings for proper compensation to creditors.
If, for example, these colleges have outstanding corporate debt, this debt should be paid off. By cancelling the loan assets, the Feds seem to be screwing the bond holders just as it did with GM and Chrysler.
Senator Murray may mean well, but she, as with most s.o.c.i.a.l.i.s.t.s, is willfully ignorant of how our system is supposed to work.0 -
i imagine thousands of student loan debtors have NOT made any payments just WAITING for this windfall ?????? done business with 5 banks and they NEVER forgave a penny ...just would have added on and got nasty if i had ever been late ...proud of the fact since 1971 i have never missed a payment on land, machinery, and operating notes and paid ALL off before or on time...diff set of values out there now for many borrowers 0 -
quote:Originally posted by spasmcreek
i imagine thousands of student loan debtors have NOT made any payments just WAITING for this windfall ?????? done business with 5 banks and they NEVER forgave a penny ...just would have added on and got nasty if i had ever been late ...proud of the fact since 1971 i have never missed a payment on land, machinery, and operating notes and paid ALL off before or on time...diff set of values out there now for many borrowers
That is about the whole ball of wax. Everyone wants something free.. or feel entitled. I paid my Wife's student loan off years ago at the credit union.0 -
The bigger question I see is the looming crisis when all those student with tens of thousands in student debt default, because they cannot find a job paying enough to repay the loan. 0 -
quote:Originally posted by spasmcreek
i imagine thousands of student loan debtors have NOT made any payments just WAITING for this windfall ?????? done business with 5 banks and they NEVER forgave a penny ...just would have added on and got nasty if i had ever been late ...proud of the fact since 1971 i have never missed a payment on land, machinery, and operating notes and paid ALL off before or on time...diff set of values out there now for many borrowers
I have thought the same thing.....it seems people with a lot of student debt are under the impression its going to be forgiven because they did everyone a favor by "trying" to go to school and since it didn't work out it shouldn't affect them. I will never understand their logic.
As far as debt.....we are the same, no late payments and everything it in check.......EXCEPT.....I have this little bitty nothing of an account with a baby store. For some reason I can make every payment on time everything is ahead as far as owing anything and I'll have EVERYTHING we owe paid off before its actually time, but that dang buybuybaby card is something I keep forgetting about and I have paid it late a couple times. I need to quit using it.....but baby stuff is TOO dang cute!0 -
Think of all that money that paid professors and institutions to brain wash the students that was wasted. [:(]
On the bright side. High Professor salaries was spent for luxury items they could afford, like grey poupon, starbucks cappuccino and Ben & Jerrys ice cream helped the general economy.0 -
and the umemployed in their field of study could use LieAWatha Warren as a role model for employment...... 0
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