Federal Reserve lent $300B in emergency funds to banks in the past week

Re:Federal Reserve lent $300B in emergency funds to banks in... by hedora on Sunday March 19, 2023 @09:56PM (#35226308)

I still don’t understand why student loans are not forgivable during bankruptcy proceedings. It is a recent change, and pretty clearly in violation of the thirteenth amendment:

“Neither slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted, shall exist within the United States, or any place subject to their jurisdiction.”

since there are legal implications if you default (including legal liability, wage garnishment, loss of social security benefits, and revocation of professional licenses). This is similar to indentured servitude, which is a form of involuntary servitude.

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Re:Federal Reserve lent $300B in emergency funds to banks in... by zeroonetwothree on Sunday March 19, 2023 @11:31PM (#35226921)

Because if they were no one would give out student loans.

Also it’s pretty offensive to equate paying back debt to indentured servitude.

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Re:Federal Reserve lent $300B in emergency funds to banks in... by 8note on Monday March 20, 2023 @03:10AM (#35228228)

Surely the government would keep giving them, with some proff that somebody actually wants to complete a useful degree.

I think in the future, those student debt punishments will be looked on in a similar way to indentured servitude. At best, forced to work (though for an indefinite, likely forever time period) for whoever gave the loan, and at worst, much worse.

Debts are risky, and should occasionally be discharged with bankruptcy. Zero risk loans make zero interest

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