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Waters tries to pin student debt crisis on banks

  

Category:  News & Politics

Via:  gooseisgone  •  5 years ago  •  83 comments

Waters tries to pin student debt crisis on banks
Maxine is challenging AOC for "Clueless in Congress"

S E E D E D   C O N T E N T



Then, Waters turned the questions on the bank executives, asking what they intended to do about the student debt crisis: “What are you guys doing to help us with the student loan debt? Who would like to answer first? Mr. Monihan? Big bank?”

“We stopped making student loans in 2007 or so,” he responded.

“So you don’t do it anymore? Mr. Corbyn?” she pressed the next banker.




“We exited student lending in 2009,” he replied.

“Mr. Dimon?” Waters tried again.

“When the government took over student lending in 2010, we stopped doing all student lending,” he said.


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jrDiscussion - desc
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It Is ME
Masters Guide
2  It Is ME    5 years ago

She's so cute when she tries ! jrSmiley_32_smiley_image.gif jrSmiley_16_smiley_image.gif

 
 
 
Sunshine
Professor Quiet
3  Sunshine    5 years ago

They just don't care anymore how stupid they sound....just attack.

 
 
 
igknorantzrulz
PhD Quiet
3.1  igknorantzrulz  replied to  Sunshine @3    5 years ago
They just don't care anymore how stupid it sounds....

i';ll just leave it at that

 
 
 
Sunshine
Professor Quiet
3.1.1  Sunshine  replied to  igknorantzrulz @3.1    5 years ago
just attack

We will just leave it at that.

Too funny.

 
 
 
igknorantzrulz
PhD Quiet
3.1.3  igknorantzrulz  replied to  gooseisgone @3.1.2    5 years ago
As chair of the Financial Services Committee, Waters should have known that all student loans were nationalized in 2010.

yea, she forgot....

WTF ?

Can't you see her point ?

Banks were gouging students, as they gouge EVERYONE

 
 
 
Sunshine
Professor Quiet
3.1.6  Sunshine  replied to  igknorantzrulz @3.1.3    5 years ago
yea, she forgot...

Forgot a trillion dollar program....jrSmiley_80_smiley_image.gif  

 
 
 
epistte
Junior Guide
3.1.7  epistte  replied to  XDm9mm @3.1.5    5 years ago
Who's holding a gun to your head forcing you to take a loan?

It would seem that you do not understand macroeconomics. Higher education is a common good that must be supported as a 21st-century public policy, so we need to find a way to pay for college that doesn't hobble graduates for life and prevent some people from attending college.   These student loans prevent them from being able to buy a house or other capital purchases and that action ripples through all of society. If we don't fix this problem soon this could crash the economy just as the mortgage crisis did in 2008.

You don't appear to see the forest for the individual trees.  The US is a very interconnected society and not just 350 million people living in close proximity to each other, so our public policies must reflect that interdependence.

 
 
 
igknorantzrulz
PhD Quiet
3.1.8  igknorantzrulz  replied to  epistte @3.1.7    5 years ago
These student loans prevent them from being able to buy a house or other capital purchases and that action ripples through all of society. If we don't fix this problem soon this could crash the economy just as the mortgage crisis did in 2008.

Amazing how those who best exemplify exemplary examplfication  , a made up word meant as a joke, have never stopped, and even severely increased the seriousness of said joke, can't grasp the concept of the completely devastating effects on this country, by continuing to dumb it down,

cause down

we all go

by it, and it is bought

Bettsyo Devos devoid of any experience , besides being the antithesis of one who should head education, as she , for years , tried to screw separation of church and state, family has donated hundreds of millions to the repubs, brother runs Black Water, the ones who want to Merc out our military, and have secret meetings with controversial figure heads on exclusive islands,

Should be Example Number 1

of why we continue the trend of DUMB

.

PS   for those other than yourself and thinking individuals,   the made up word would be "igknorantzrulz"

 
 
 
epistte
Junior Guide
3.1.10  epistte  replied to  XDm9mm @3.1.9    5 years ago
Not to break your bubble, but I know too many "college graduates" that are essentially functional illiterates.

I'm related to two of them but this reply is a red herring. 

Here's something you might not want to acknowledge, NOT EVERYONE needs to go to college.   The purported value of a 4 year degree toady is similar to what a high school diploma was when I graduated HS.  A 'masters' is in line with a four year of those days gone by and in a few more years, McDonalds will want a PhD for the fries guy.

Please read I wrote and only what I wrote because I  chose my words very carefully so as to not leave anything for you to fill in. Did you happen to notice that I didn't say or even hint that a 4-year degree would now be mandatory because I didn't say that? You want to try to deflect attention because you do not want to discuss the subject at hand, which is public funding for post-secondary education.  

So, when your toilet backs up....   who you gonna call?   The theory laden guy with the masters or the HS Dropout with the plumbing snake and ten years experience?

I answered that previously.

 
 
 
Jasper2529
Professor Quiet
3.1.11  Jasper2529  replied to  epistte @3.1.7    5 years ago
Higher education is a common good that must be supported as a 21st-century public policy, so we need to find a way to pay for college that doesn't hobble graduates for life and prevent some people from attending college.

Here's a thought ... choose a college where the tuition is only $40K instead of $70K, make sure that every course taken is valuable and not stupid shit like "How White Men Are Destroying the USA".  Stop diddling in college safe spaces and protesting crap for SIX YEARS and graduate like normal people in FOUR YEARS.

 
 
 
igknorantzrulz
PhD Quiet
3.1.13  igknorantzrulz  replied to  gooseisgone @3.1.12    5 years ago

how bout both ?

 
 
 
igknorantzrulz
PhD Quiet
3.1.14  igknorantzrulz  replied to  XDm9mm @3.1.5    5 years ago
Who's holding a gun to your head forcing you to take a loan?

A Lone Gunman

 
 
 
igknorantzrulz
PhD Quiet
3.1.15  igknorantzrulz  replied to  Sunshine @3.1.6    5 years ago
Forgot a trillion dollar program...

be leave, most realise i   use not a /s tag

 
 
 
Texan1211
Professor Principal
3.1.18  Texan1211  replied to  Jasper2529 @3.1.11    5 years ago
Here's a thought ... choose a college where the tuition is only $40K instead of $70K, make sure that every course taken is valuable and not stupid shit like "How White Men Are Destroying the USA". Stop diddling in college safe spaces and protesting crap for SIX YEARS and graduate like normal people in FOUR YEARS.

Jasper, Jasper, Jasper...……….how unreasonable of you to even dare suggest that people be financially sane! 

For shame!

I believe the new mantra is supposed to be "Free education, free education, loan "forgiveness"!!"

 
 
 
igknorantzrulz
PhD Quiet
3.1.19  igknorantzrulz  replied to  XDm9mm @3.1.16    5 years ago
Is there anything else you think I don't want to discuss?

Well, though not directed to me, i'd have to go with the reality of the great pumpkin 

existence, male pattern baldness, womens shoes,

and 

possibly, a reality where you are wrong about Trump

 
 
 
epistte
Junior Guide
3.1.20  epistte  replied to  gooseisgone @3.1.12    5 years ago
Maybe you should address the massive increase in College cost not the financing, regardless of who is holding the paper.

Many states are not funding public higher education at the level to keep up with inflation,  so the price of tuition paid by students is going up.

Across the country, state funding for higher education grew by just 1.3 percent from 2017 to 2018, a sign that states are struggling to sustain revenue streams needed to support colleges and universities, experts say.

The increase in state support was the lowest in the past five years, according to the new Grapevine study, a joint project of the Center for the Study of Education Policy at Illinois State University and the State Higher Education Executive Officers association. The study compiles state fiscal support for higher education, excluding figures such as capital costs and debt service.

Nearly a third of the 50 states reported decreases in higher-education funding in fiscal year 2018, including Ohio. Of those states, Ohio logged the smallest decrease: 0.1 percent.

The slow growth in support nationwide is a consequence of many factors, said Jim Palmer, editor of the study and a professor of higher education at Illinois State.

In some states, lawmakers have made decisions to decrease or maintain taxes rather than increase them to support areas such as higher education, he said. There also have been downturns in economic sectors on which some states are more dependent, such as the energy industry.

 
 
 
igknorantzrulz
PhD Quiet
3.1.21  igknorantzrulz  replied to  gooseisgone @3.1.17    5 years ago
Banks aren't making the loans, it our government!

and this happened because...

 
 
 
epistte
Junior Guide
3.1.22  epistte  replied to  Jasper2529 @3.1.11    5 years ago
Here's a thought ... choose a college where the tuition is only $40K instead of $70K,

4 years of $40K per is still 160K for 4 years, plus interest. That is another house payment. 

make sure that every course taken is valuable and not stupid shit like "How White Men Are Destroying the USA". 

You sound triggered by coursework some people choose to take.  

Stop diddling in college safe spaces and protesting crap for SIX YEARS and graduate like normal people in FOUR YEARS.

Is this what Fox News says is happening?  I took 6 years to graduate.  My daughter graduated in 5.

 
 
 
Texan1211
Professor Principal
3.1.23  Texan1211  replied to  epistte @3.1.22    5 years ago
4 years of $40K per is still 120K for 4 years, plus interest.

Math major, I presume.

 
 
 
epistte
Junior Guide
3.1.26  epistte  replied to  XDm9mm @3.1.24    5 years ago
No....   engineer after SIX years.

I did the math in my head as I was writing and didn't check it. 

The corrected figure of $160K+ after 4 years doesn't help your argument. 

What is your degree?

 
 
 
Texan1211
Professor Principal
3.1.28  Texan1211  replied to    5 years ago
No....the colleges were gouging the students, not the banks.
How do banks gouge anyone ?
After all, one does not have to do business with banks unless you accept their terms.

Seems like some want something for nothing--again.

Just can't take any personal responsibility for themselves. Want everyone else to pay.

Phfffft!

 
 
 
igknorantzrulz
PhD Quiet
3.1.30  igknorantzrulz  replied to    5 years ago
How do banks gouge anyone ? After all, one does not have to do business with banks unless you accept their terms.

WHO THE FCK BAILED OUT THE BANKS , Wally ????

After they F'd US All

 
 
 
Texan1211
Professor Principal
3.1.31  Texan1211  replied to  igknorantzrulz @3.1.21    5 years ago
and this happened because...

Obama wanted the federal government in charge of issuing those student loans. A very poor idea, actually.

 
 
 
epistte
Junior Guide
3.1.32  epistte  replied to  XDm9mm @3.1.29    5 years ago
Ah there it is.   The holier than thou sanctimonious superiority coming out in all it's glory. You're so very easy to spot.

You made an issue out of it, so I called you on it.

What field do you work in?

 
 
 
igknorantzrulz
PhD Quiet
3.1.33  igknorantzrulz  replied to  XDm9mm @3.1.29    5 years ago
What is your degree?
Ah there it is.   The holier than thou sanctimonious superiority coming out in all it's glory. You're so very easy to spot.

as you are aware XD, i'm self uneducated, do not like holier than thou's, and am only spotted,

when i wear stripes, but ill argue with anyone, irregardless

by the way, i have degrees in both Celcius and Farenheit,

i'm cool either way, till i get hot, but since i refuse to obey the laws of physics,

i'm knumb from inertia either weigh i fish for scaled down models of scaled up ones. Both represent versions of truth diversions, by design, by external interior designers who feel nothing could be finer

than to N joy such bliss

sum

don't miss

 
 
 
Jack_TX
Professor Quiet
3.1.35  Jack_TX  replied to  epistte @3.1.7    5 years ago
It would seem that you do not understand macroeconomics.

You should always start conversations with personal insults.  

Higher education is a common good that must be supported as a 21st-century public policy,

Subsidizing low-interest student loans is, in fact, supporting higher education. 

so we need to find a way to pay for college that doesn't hobble graduates for life and prevent some people from attending college.

"Hobble graduates for life"?  Is there a college major in melodrama?  The average student loan is about the cost of a new Toyota.

   These student loans prevent them from being able to buy a house or other capital purchases and that action ripples through all of society.

Only if their degree does not pay for itself and they are not aware of income based repayment.

If we don't fix this problem soon this could crash the economy just as the mortgage crisis did in 2008.

Are there credit default swaps on tranches of student loans?  So how exactly are we going to have a banking crisis on loans banks no longer make?

How do you propose we "fix" this "problem"?

You don't appear to see the forest for the individual trees.

In this case, millions of individuals trees whining about having to actually repay relatively small amounts of money they borrowed at artificially suppressed interest rates

  The US is a very interconnected society and not just 350 million people living in close proximity to each other, so our public policies must reflect that interdependence.

A huge part of that interdependence revolves around people paying their debts, so we appear to be on track.

 
 
 
Jack_TX
Professor Quiet
3.1.36  Jack_TX  replied to  epistte @3.1.20    5 years ago
Many states are not funding public higher education at the level to keep up with inflation,  so the price of tuition paid by students is going up.

Which has nothing at all to do with the inflation rate for higher education being more than double the rate for other consumer items. 

 
 
 
Jasper2529
Professor Quiet
3.1.38  Jasper2529  replied to  epistte @3.1.22    5 years ago
You sound triggered by coursework some people choose to take.

I'm far too secure in myself to be "triggered" by what you assume about me.

Is this what Fox News says is happening?

I wouldn't know, but I have read many NYT articles about this topic.

  I took 6 years to graduate.  My daughter graduated in 5.

That's wonderful. Congratulations to both of you!

 
 
 
Texan1211
Professor Principal
4  Texan1211    5 years ago

Maxine Waters is an idiot, plain and simple.

Happily, she is a Democrat.

 
 
 
Don Overton
Sophomore Quiet
4.2  Don Overton  replied to  Texan1211 @4    5 years ago

Smarter than any republican  Also:  1.1.1

 
 
 
igknorantzrulz
PhD Quiet
4.2.2  igknorantzrulz  replied to  Release The Kraken @4.2.1    5 years ago
She is smart enough to qualify for special ed services

i was

 
 
 
Transyferous Rex
Freshman Quiet
5  Transyferous Rex    5 years ago

Seems I remember lots of discussion on the issue back in '09 and a few years thereafter. Cut the middle man out, chicken in every pot, it'll be great, we'll all make money and be better for it...which transitioned into loan forgiveness. 

 
 
 
Cerenkov
Professor Silent
5.1  Cerenkov  replied to  Transyferous Rex @5    5 years ago

The government was there to help...

 
 
 
Transyferous Rex
Freshman Quiet
5.1.1  Transyferous Rex  replied to  Cerenkov @5.1    5 years ago

Indeed...

 
 

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