“This is robosigning all over again,” said Robyn Smith, a lawyer with the National Consumer Law Center, a nonprofit advocacy group, referring to the way that banks, at the height of the mortgage crisis, brought thousands of foreclosure lawsuits without reviewing the underlying paperwork.

And it's all private loan stuff. In other words, fucking over the most vulnerable.


francopoli:

The more and more I get into the whole student loan malevolence the more I stand by my assertion that we should stop telling kids to go to college. I'm beginning to think that if we want to end the poverty cycle, we grab these kids that are being told to go to college or else and instead loan them 10K, use that to get them into a trade union, and they have the financial resources to buy the tools, safety gear, boots etc they need to get rolling. That 10K will be repaid in 2-3 years. Oh and the country starts to rebuild its blue-collar and union foundations, we avoid the trade-skill Armageddon in 10-15 years when all these old guys die or retire and we start fixing things again in this country.

And then I woke up and realized I live in a superpower with a dysfunctional Congress a kleptocract president and smile that I am going to be dead in 10 years and not have to deal with the fall out.


posted by kleinbl00: 3 days ago