Re:U.S. student debt: $966B as of Q4, 2012
by yesbabyyes on Saturday March 02, 2013 @07:33AM
(#5309331)
I'm afraid you are wrong. What you are talking about is doing anything to keep the debts on the book, passing the cost to the people -- the very people who are indebted. That's what the global crisis comes down to: a refusal to allow bankruptcy, on every level -- personal, corporational and national.
Edit: Spelling.
Re:U.S. student debt: $966B as of Q4, 2012
by jswinghammer on Saturday March 02, 2013 @07:15AM
(#5309303)
If normal people were in fact getting bailouts they would be getting their mortgages paid off whereas the Fed is just making the paper value of the assets based of those mortgages higher than their probable market value.
Bullshit.
You add up the value of every home default in America and it's way, way less than the trillion dollars that the banks were bailed out for.
Homeowners weren't bailed out, the banks were bailed out.
Home owners got the largest bailout in world history. Trillions worth and counting.
And when it comes time in the near future, with the Sallie Mae system collapsing, the Fed will write a big fat check to keep it all solvent.
You can debate why they will of course (for the banks that have exposure, etc), but they absolutely will write that check.