Add the student loan industry to the list of enterprises taken over by Obama. I heard Rush mention the house vote on a bill that put an end to private, student loans, then read a blog about it by Rep. Michelle Bachmann (R-MN).
From Townhall dot com:
Another month, and another attempt by the Obama Administration to take over a successful portion of the private sector. Banks, cars, and now student loans. I’m beginning to see a trend here.
Today, the House will complete consideration of the Student Aid and Fiscal Responsibility Act of 2009, otherwise known as the public option for higher education (not to be confused with the public option for health care — but the similarities can’t be overlooked). Advocates like the President maintain that if passed, this bill will bring a "level playing field" between government and private options. Sound familiar?
Apparently it passed the house easily.
I wonder what this means for colleges like Hillsdale? Will this force them out of business?
God help us!
-Crippy
Moe Lane
Steve Maley
Dan McLaughlin
Neil Stevens
Daniel Horowitz
That was a silly comparison
mom2oneson (Diary) Thursday, September 17th at 4:04PM EST (link)between the banks/cars and student loans. Apart from the gov being the guarantor do y’all realize when a loan is subsidized – while it’s in deferment all the interest is being paid by the gov to the bank? I can’t even fathom how much that is for all the students and former students that get subsidized loans apart from the gov backing them. Why should sallie mae or fill in the blank bank get that cash? Does anyone know how much the gov spends in loan student loan subsidy interest each year? I usually love what she says but I think that was a silly comparison.
I read the whole thing, including the Bachman statement
E Pluribus Unum (Diary) Friday, September 18th at 10:39AM EST (link)And I did not see any comparison made between “banks/cars” and “student loans”. It was noted that student loans are just another sector of the market (along with banks, cars, et al) that the government just TOOK OVER with no justification, and seemingly for no other reason than to exert control.
So what’s the problem and why is that silly to point out?
Kill the Terrorists
Protect the Borders
Punch the Hippies h/t IMAO