Obama Trying To Buy A Few More Votes

[Vel]

Looks as if Obama is once again trying to pander for votes by using taxpayer dollars.
****************************************************
Obama Administration Backs Bankruptcy Option for Some Student Debt

By JOSH MITCHELL

The Obama administration urged Congress to make it easier for people to discharge a portion of certain student debt by filing for bankruptcy protection.

The recommendation, in a report by the Education Department and the Consumer Financial Protection Bureau, wouldn't affect the vast majority of student debt, which is issued by the federal government. It would apply only to the roughly $150 billion, or 15% of total outstanding student debt, issued by private lenders such as SLM Corp.'s Sallie Mae and Wells Fargo & Co.

Consumer bureau chief Richard Cordray said Congress should consider modifying a 2005 law that, except in rare circumstances, prohibits discharging private student loans through bankruptcy.

"It would be prudent to consider whether they wish to modify the code in light of the impact on young borrowers in challenging labor-market conditions," Mr. Cordray said. He added that the law doesn't appear to have met its objectives of bringing down borrowing costs and expanding access to private loans.

Expanding the concept to federal loans would be politically controversial given that it would likely result in taxpayer losses, and Republicans have expressed reservations.

Obama Administration Backs Bankruptcy Option for Some Student Debt - WSJ.com

 

[ScienceRocks]

Our entire election system is all about WHO has the most money. MONEY is all that matters anymore!

 

[candycorn]

Looks as if Obama is once again trying to pander for votes by using taxpayer dollars.
****************************************************
Obama Administration Backs Bankruptcy Option for Some Student Debt

By JOSH MITCHELL

The Obama administration urged Congress to make it easier for people to discharge a portion of certain student debt by filing for bankruptcy protection.

The recommendation, in a report by the Education Department and the Consumer Financial Protection Bureau, wouldn't affect the vast majority of student debt, which is issued by the federal government. It would apply only to the roughly $150 billion, or 15% of total outstanding student debt, issued by private lenders such as SLM Corp.'s Sallie Mae and Wells Fargo & Co.

Consumer bureau chief Richard Cordray said Congress should consider modifying a 2005 law that, except in rare circumstances, prohibits discharging private student loans through bankruptcy.

"It would be prudent to consider whether they wish to modify the code in light of the impact on young borrowers in challenging labor-market conditions," Mr. Cordray said. He added that the law doesn't appear to have met its objectives of bringing down borrowing costs and expanding access to private loans.

Expanding the concept to federal loans would be politically controversial given that it would likely result in taxpayer losses, and Republicans have expressed reservations.

Obama Administration Backs Bankruptcy Option for Some Student Debt - WSJ.com

A good idea by Mr. Obama. Bankruptcy protection shouldn't be only for some persons with a certain type of debt obligation in my view.

 

[Vel]

This is just another ploy by Obama to pander to the young people who are no longer enthralled with him. The only way that they should allow bankruptcy on student loans is if the student loses any degree gained with the borrowed money.

 

[Trajan]

Looks as if Obama is once again trying to pander for votes by using taxpayer dollars.
****************************************************
Obama Administration Backs Bankruptcy Option for Some Student Debt

By JOSH MITCHELL

The Obama administration urged Congress to make it easier for people to discharge a portion of certain student debt by filing for bankruptcy protection.

The recommendation, in a report by the Education Department and the Consumer Financial Protection Bureau, wouldn't affect the vast majority of student debt, which is issued by the federal government. It would apply only to the roughly $150 billion, or 15% of total outstanding student debt, issued by private lenders such as SLM Corp.'s Sallie Mae and Wells Fargo & Co.

Consumer bureau chief Richard Cordray said Congress should consider modifying a 2005 law that, except in rare circumstances, prohibits discharging private student loans through bankruptcy.

"It would be prudent to consider whether they wish to modify the code in light of the impact on young borrowers in challenging labor-market conditions," Mr. Cordray said. He added that the law doesn't appear to have met its objectives of bringing down borrowing costs and expanding access to private loans.

Expanding the concept to federal loans would be politically controversial given that it would likely result in taxpayer losses, and Republicans have expressed reservations.

Obama Administration Backs Bankruptcy Option for Some Student Debt - WSJ.com

I was wondering when this penny would drop.

this is why giving way to the student loan interest rate reduction was a bad idea, there is never an end to the giveaways....ever, you just make them hungry for more.

Consumer bureau chief Richard Cordray , of course, a 'recess appointment'....he fits right in, whether he was told to or not.

 

[Vel]

Looks as if Obama is once again trying to pander for votes by using taxpayer dollars.
****************************************************
Obama Administration Backs Bankruptcy Option for Some Student Debt

By JOSH MITCHELL

The Obama administration urged Congress to make it easier for people to discharge a portion of certain student debt by filing for bankruptcy protection.

The recommendation, in a report by the Education Department and the Consumer Financial Protection Bureau, wouldn't affect the vast majority of student debt, which is issued by the federal government. It would apply only to the roughly $150 billion, or 15% of total outstanding student debt, issued by private lenders such as SLM Corp.'s Sallie Mae and Wells Fargo & Co.

Consumer bureau chief Richard Cordray said Congress should consider modifying a 2005 law that, except in rare circumstances, prohibits discharging private student loans through bankruptcy.

"It would be prudent to consider whether they wish to modify the code in light of the impact on young borrowers in challenging labor-market conditions," Mr. Cordray said. He added that the law doesn't appear to have met its objectives of bringing down borrowing costs and expanding access to private loans.

Expanding the concept to federal loans would be politically controversial given that it would likely result in taxpayer losses, and Republicans have expressed reservations.

Obama Administration Backs Bankruptcy Option for Some Student Debt - WSJ.com

I was wondering when this penny would drop.

this is why giving way to the student loan interest rate reduction was a bad idea, there is never an end to the giveaways....ever, you just make them hungry for more.

Consumer bureau chief Richard Cordray , of course, a 'recess appointment'....he fits right in, whether he was told to or not.

Yep, Just tell them that those rich people owe them that education because after all, their success isn't really theirs. It was the community that allowed those rich people to have all that money and they owe it to the community to pay all the bills.

 

[Trajan]

Looks as if Obama is once again trying to pander for votes by using taxpayer dollars.
****************************************************
Obama Administration Backs Bankruptcy Option for Some Student Debt

By JOSH MITCHELL

The Obama administration urged Congress to make it easier for people to discharge a portion of certain student debt by filing for bankruptcy protection.

The recommendation, in a report by the Education Department and the Consumer Financial Protection Bureau, wouldn't affect the vast majority of student debt, which is issued by the federal government. It would apply only to the roughly $150 billion, or 15% of total outstanding student debt, issued by private lenders such as SLM Corp.'s Sallie Mae and Wells Fargo & Co.

Consumer bureau chief Richard Cordray said Congress should consider modifying a 2005 law that, except in rare circumstances, prohibits discharging private student loans through bankruptcy.

"It would be prudent to consider whether they wish to modify the code in light of the impact on young borrowers in challenging labor-market conditions," Mr. Cordray said. He added that the law doesn't appear to have met its objectives of bringing down borrowing costs and expanding access to private loans.

Expanding the concept to federal loans would be politically controversial given that it would likely result in taxpayer losses, and Republicans have expressed reservations.

Obama Administration Backs Bankruptcy Option for Some Student Debt - WSJ.com

I was wondering when this penny would drop.

this is why giving way to the student loan interest rate reduction was a bad idea, there is never an end to the giveaways....ever, you just make them hungry for more.

Consumer bureau chief Richard Cordray , of course, a 'recess appointment'....he fits right in, whether he was told to or not.

Yep, Just tell them that those rich people owe them that education because after all, their success isn't really theirs. It was the community that allowed those rich people to have all that money and they owe it to the community to pay all the bills.

yes well all those rich endowments by the evil rich made it possible for Obama to 'lecture', not that he'd admit it....

 

[francoHFW]

Yup, only the rich should prosper and be pandered to...

 

[Vel]

Yup, only the rich should prosper and be pandered to...

How about we have a government that doesn't pander to anyone?

 

[tererun]

You cannot blame Obama for a credit system made long before he was in any office that makes fiscal sense to declare bankrupcy right out of college. This is just obama bringing to light an idea that would benefit many college kids looking to their future.

You graduate, you get a job, you get hit with the loan payments, and then you declare bankrupcy and never pay. It is a system made long before most people in our government were here. The only people this really damages are those who were planning on running themselves deep into debt before they are ready to pay for things. A frugal person realizes unless you are extremely lucky right out of school you will not need big credit until your thirties anyway. Deal with a used car, renting a cheap appartment, and by the time the bankrupcy falls off your record you have years of earnings, a bank account, and smaller credit cards so you can go get a car loan or a mortgage. By then you have work experience and hopefully a job in your field, and you are ready for these things.

I always thought that system was made for the rich to allow their kids to avoid paying off loans they took while the family gave them the credit to overcome the time it takes for the bankrupcy to fall off your record. I didn't learn this shit from the poor or democrats, this was taught to me by well off white people on how to avoid spending money on a college education.

 

[The Rabbi]

I remember when the debt was made non dischargable. It was precisely because kids would rack up thousands of dollars and go straight from graduation to bankruptcy court.
This is just pandering to the student vote he took so strongly in 08 that has soured on him in the meantime. Lousy idea. Like everything else he's done.

 

[tererun]

I remember when the debt was made non dischargable. It was precisely because kids would rack up thousands of dollars and go straight from graduation to bankruptcy court.
This is just pandering to the student vote he took so strongly in 08 that has soured on him in the meantime. Lousy idea. Like everything else he's done.

Well, we could always go the republican way and just get rid of public funding for college alltogether, and eliminate public high school too. After all, I see your anger considering according to your heroes education is for snobs. Republicans like stupid, it makes more republicans.

 

[The Rabbi]

I remember when the debt was made non dischargable. It was precisely because kids would rack up thousands of dollars and go straight from graduation to bankruptcy court.
This is just pandering to the student vote he took so strongly in 08 that has soured on him in the meantime. Lousy idea. Like everything else he's done.

Well, we could always go the republican way and just get rid of public funding for college alltogether, and eliminate public high school too. After all, I see your anger considering according to your heroes education is for snobs. Republicans like stupid, it makes more republicans.

Well that wouldn't be a bad idea. What has federal gov't funding done to improve education in the last 30 years?

 

[WillowTree]

Looks as if Obama is once again trying to pander for votes by using taxpayer dollars.
****************************************************
Obama Administration Backs Bankruptcy Option for Some Student Debt

By JOSH MITCHELL

The Obama administration urged Congress to make it easier for people to discharge a portion of certain student debt by filing for bankruptcy protection.

The recommendation, in a report by the Education Department and the Consumer Financial Protection Bureau, wouldn't affect the vast majority of student debt, which is issued by the federal government. It would apply only to the roughly $150 billion, or 15% of total outstanding student debt, issued by private lenders such as SLM Corp.'s Sallie Mae and Wells Fargo & Co.

Consumer bureau chief Richard Cordray said Congress should consider modifying a 2005 law that, except in rare circumstances, prohibits discharging private student loans through bankruptcy.

"It would be prudent to consider whether they wish to modify the code in light of the impact on young borrowers in challenging labor-market conditions," Mr. Cordray said. He added that the law doesn't appear to have met its objectives of bringing down borrowing costs and expanding access to private loans.

Expanding the concept to federal loans would be politically controversial given that it would likely result in taxpayer losses, and Republicans have expressed reservations.

Obama Administration Backs Bankruptcy Option for Some Student Debt - WSJ.com

He's just sticking it to the successful taxpaying citizens again, I think he's losing more than he's gaining. most of America knows this by now, every time he panders to his pet groups the taxpayer ends up being fleeced.

 

[Seawytch]

Yup, only the rich should prosper and be pandered to...

How about we have a government that doesn't pander to anyone?

That would be great. For the last 30+ years we've had a system pandering to the wealthy. A little shift in the balance is welcome.

I recall the meme during the Bush TARP discussion. People were saying "where's my bailout?".

Well, here's a little bit of it.

 

[Seawytch]

I remember when the debt was made non dischargable. It was precisely because kids would rack up thousands of dollars and go straight from graduation to bankruptcy court.
This is just pandering to the student vote he took so strongly in 08 that has soured on him in the meantime. Lousy idea. Like everything else he's done.

Well, we could always go the republican way and just get rid of public funding for college alltogether, and eliminate public high school too. After all, I see your anger considering according to your heroes education is for snobs. Republicans like stupid, it makes more republicans.

Well that wouldn't be a bad idea. What has federal gov't funding done to improve education in the last 30 years?

No Child Left Behind? Oops, nope. That was unfunded.

 

[The Rabbi]

Well, we could always go the republican way and just get rid of public funding for college alltogether, and eliminate public high school too. After all, I see your anger considering according to your heroes education is for snobs. Republicans like stupid, it makes more republicans.

Well that wouldn't be a bad idea. What has federal gov't funding done to improve education in the last 30 years?

No Child Left Behind? Oops, nope. That was unfunded.

You mean the legislation written by Ted Kennedy?
OK so there is no benefit that 30 years of federal funding has brought. Thanks for admitting that.

 

[The T]

I remember when the debt was made non dischargable. It was precisely because kids would rack up thousands of dollars and go straight from graduation to bankruptcy court.
This is just pandering to the student vote he took so strongly in 08 that has soured on him in the meantime. Lousy idea. Like everything else he's done.

Well, we could always go the republican way and just get rid of public funding for college alltogether, and eliminate public high school too. After all, I see your anger considering according to your heroes education is for snobs. Republicans like stupid, it makes more republicans.

Well that wouldn't be a bad idea. What has federal gov't funding done to improve education in the last 30 years?

Other than throw more money at it and produce more indoctrinated zombies?

 

[Vel]

Well, we could always go the republican way and just get rid of public funding for college alltogether, and eliminate public high school too. After all, I see your anger considering according to your heroes education is for snobs. Republicans like stupid, it makes more republicans.

Well that wouldn't be a bad idea. What has federal gov't funding done to improve education in the last 30 years?

No Child Left Behind? Oops, nope. That was unfunded.

We know what hasn't worked. If you support federal government funding, why don't you step up and tell us what has?

 

[Vel]

You cannot blame Obama for a credit system made long before he was in any office that makes fiscal sense to declare bankrupcy right out of college. This is just obama bringing to light an idea that would benefit many college kids looking to their future.

You graduate, you get a job, you get hit with the loan payments, and then you declare bankrupcy and never pay. It is a system made long before most people in our government were here. The only people this really damages are those who were planning on running themselves deep into debt before they are ready to pay for things. A frugal person realizes unless you are extremely lucky right out of school you will not need big credit until your thirties anyway. Deal with a used car, renting a cheap appartment, and by the time the bankrupcy falls off your record you have years of earnings, a bank account, and smaller credit cards so you can go get a car loan or a mortgage. By then you have work experience and hopefully a job in your field, and you are ready for these things.

I always thought that system was made for the rich to allow their kids to avoid paying off loans they took while the family gave them the credit to overcome the time it takes for the bankrupcy to fall off your record. I didn't learn this shit from the poor or democrats, this was taught to me by well off white people on how to avoid spending money on a college education.

How sad that you think it's perfectly ok to borrow money and then just simply not pay it back. Obviously, you have no honor and no pride in yourself.