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Why do student loan companies exist
- Thread starter noob_trad3r
- Start date
Quote from taclander:
It's the government that failed in their regulatory responsibility. As a matter of record their any number of documented cases of our protector agencies knowing what was going on was wrong, and letting it go. Our own Congress idiots were partaking of the mortgage scams that were going on as long as they got a piece of the action. Do you really think these are the guys that are going to help out? No, they are going to get companies and people to pay them to enact legislation for the highest bidder. My Dad gets Social Security and is on Medicare and he isn't gettiing a cost of living increase next year, but will probably pay moe for Medicare, but the clowns of waste get one, and one that is way above inflation?!!! Are you nuts?
You want billions and trillions in waste look at every bill these jerk wads put forth. It is supposed to be for one thing, yet are stuffed with billions and yes, trillions of waste and pork for their own personal gain. Take a llok at all the buildings that clown Murtha has named after himself. Or the jerk wad in Alaska who finally was busted. The bonuses for the executives, which I will never argue with you are obscene in light of their own mismanagement, are nothing compared to the evil empire(Congress) you want in charge of anything. Chekc out the benfit package that Congress gave themselves. You will never see anything like in you life.
I'm done on the subject, so feel free to rip it up and tell me how wrong I am. I know the truth, I am not a passive person who sits around thinks all is well and the government will make it right. I do my research and read the bills that are put forth and contact my Senators and Congressmen regularly. Everyone should and hold them much more accountable, instead of allowing life time appointments due to apathy.
I think that you need to make a distinction between what government can do and what it has been doing.
I used to work for the NAVY which overhauled it's own ships. Then a percentage of the overhaul work was designated for private shipyards to keep them in business. and the percentage directed to private shipyards went up on a regular basis. Half the overhaul for twice the price. And everyone agreed that the idea was to preserve the US private yards, not because the NAVY can not do the job better and cheaper. The same thing with the "outsourcing" of supply and logistics in Iraq to Kellogg Brown and Root. The Army does a better job of providing eatable food and clean clothes for itself to avoid crotch and foot rot, and did so at a lower cost. This outsourcing of government functions to support the military has been a flat giveaway to Bush Administration Cronies. They did not start the diversion of federal dollars to their buddies doing things the government does better, they just took it to greater extreams.
"The bonuses for the executives, which I will never argue with you are obscene in light of their own mismanagement, are nothing compared to the evil empire(Congress) you want in charge of anything. "
Yes Congress has been taken over by corporate flacks that cooperate in diverting funds that should be administered as government programs to private middlemen that take a big cut.
Quote from wutang:
Things really turned out great when regulations were changed in the 80's to allow the securitization of mortgage loans right... Why trust these things to private industry that has zero interest in the public good or any accountability? Market solutions may make these processes more efficient, but efficient to what end? It's a very short sighted solution, which leads to "too big to fail" and bailouts when infrastructure is tied to corporations whose soul purpose is to rape and pillage. Especially now that they know they'll get bailed out after they blow up.
Unfortunately for the free market lovers history shows the government has more accountability than corporations. Not to mention having an accountable regulatory body on top of non-accountable private companies is very inefficient when you could have just the government company which is immediate accountable.
Quote from wutang:
Things really turned out great when regulations were changed in the 80's to allow the securitization of mortgage loans right... Why trust these things to private industry that has zero interest in the public good or any accountability? Market solutions may make these processes more efficient, but efficient to what end? It's a very short sighted solution, which leads to "too big to fail" and bailouts when infrastructure is tied to corporations whose soul purpose is to rape and pillage. Especially now that they know they'll get bailed out after they blow up.
The government has already taken the efficiencies out of the market. The loans are guaranteed by the federal government. This is the single most reason college tuition is through the roof.
Quote from college_trad3r:
Unfortunately for the free market lovers history shows the government has more accountability than corporations. Not to mention having an accountable regulatory body on top of non-accountable private companies is very inefficient when you could have just the government company which is immediate accountable.
False, maybe community college.
M
morganist
Quote from Martinghoul:
Because Americans are inordinately attached to and believe in mkt-based solutions to all things, including provision of public goods, such as education, healthcare, etc. The mkt is brought into play, to one degree or another, even when it makes little sense...
it is not just america. england does it now too. they sold off all of the student dent to private companies ripping off the students. they said they wouldn't then did it all the same.
you surprise me i thought you were very much a mkt-bsed for everything guy.