Posted on 03/10/2016 11:05:21 AM PST by originalbuckeye
I heard an excerpt of Hillary! last night where she was decrying the fact that the Government profits, from the interest, off students who have loans. Wasn't it Obama, early in his first term, that confiscated the Student Loan Program from the banks?
Yes he did. He first took CAIR of terror list. Then took student loans over. and took over Census Office.
Yes. (And the legality of that dictatorial fiat?)
Legality?? To paraphrase a former President ‘if Obama does it, IT IS NOT ILLEGAL’ ( but Obamabots would cringe at the thought that Obama is the President that Nixon wished to be)
If I remember correctly / he took it over from the banks and the interest that was earned from the students was calculated in the faux costs of Obamacare
What a complete and utter financial merry-go-round. Wish there would be SOMEONE who would work out and tell the truth about all the financial mismanagement by this Admin.
Clinton established the Federal Student Loan Program, which drove up tuition costs for those of us attending university in the 90s.
Thanks, forgot that.
Louis XIV reportedly said, “ L’État, c’est moi” - The State? I am the State!
They take student loan money for Obamacare. According to this (from 2013) the interest rate would go from 6.8 to 5.3 without Obamacare steeling from it http://thehill.com/opinion/columnists/dick-morris/302247-loans-subsidize-obamacare
It’s one of the things they did so the entire bill passed the CBO and Obama’s promise on cost.
I had a similar thought.
Hitlery was complaining about the poor snowflakes being taken advantage of. But who sets the interest rates and writes the loans? No longer the banks.
Then she went on about forgiving the loans after a certain number of years. Why? Do I get the same consideration on my car loan or mortgage?
Yep. Do you think she will be asked about this at a Townhall soon??? (crickets)
This ding-a-ling and his cronies are playing fast and loose w/ our tax dollars and penalties imposed on banks.
EXHIBIT ONE--- Obama and Congressional Democrats----with a huge assist from Eric Holder----have given NeighborWorks America (formerly ACORN) and La Raza a huge funding source of tax dollars to achieve Obama's dream of a permanent Democrat majority.
Obama/Holder/Dems are forcing taxpayers via DOJ litigation WRT bank settlements----into paying off these nefarious organizations.
DOJ went after CitiCorp and ordered them to pay $50 million to La Raza and NeighborWorks America as part of the settlement.
Another clause in the agreement makes it possible for La Raza and NeighborWorks America to rake in even larger amounts of money.
Of the remaining money the banks needed to pay in settlements, the banks were able to contribute additional money to La Raza and NeighborWorks America. For every dollar they contribute, it reduces their debt to the government by 2 dollars. That’s some mighty powerful incentive to give generously.
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House Judiciary Committee Chairman Bob Goodlatte (R-Va.) and House Financial Services Chairman Jeb Hensarling have questioned why this money was sent to the ACORN clone and the blood-thirsty LaRaza----rather than to the alleged victims of the bank’s crime. The administration of course declined to answer.
Here's part of the Congressmen's letter to Holder: “It seems that the alleged victims are not the primary beneficiaries of these multi-billion dollar settlements. Instead, the terms in the Justice Department’s two latest settlements look less like consumer relief and more like a scheme to funnel money to politically favored special interest groups.”
“This makes donations to activist groups far more attractive to banks than providing direct relief to injured consumers. As a result, the settlements appear to serve as a vehicle for funding activist groups rather than as a means of securing relief for consumers actually harmed.”
So now, with Social Security cards, manpower and tons of money to go along with the two years before the next presidential election, the largest and most successful voter fraud campaign may alter the course of the elections not to mention the future of the United States.
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EXHIBIT TWO---Chicago Mayor Rahm Emanuel was once Bill Clinton/s top aide and a G/S lobbyist AT THE SAME TIME.
When he go into the Obama WH, Rahm was also multi-tasking.
Obama and Rahm and the rest of the criminals were the kingpins of Chicago criminal politics ensconced in our WH. The stench from the Chicago sleaze permeated the putrid Capitol Hill air... starting w/ Obama's COS Rahm Emanuel.
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THIS MADE ME LAUGH OUT LOUD shortly after quitting his powerful WH job as Obama's COS, Rahm held a presser declaring he "just remembered" he really, Really wanted to be Mayor of Chicago. Then Rahm announced he had magically "raised" $30 million for his campaign in "just a matter of weeks." (waiting for hysterical laughter to die down).
Ya gotta wonder how much the cunning onetime Wall Streeter wired offshore when Obama put Rahm--in a dual role---as his COS....... AND in charge of the entire US Treasury.
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BACKSTORY---THE KINGPINS OF CHICAGO CRIMINAL POLITICS IN OUR WH wasted no time.....they had a stranglehold on the Census, AND the US Treasury, from day one.
The minute Obama/Valerie/Rahm/Axelrod/Geithner, and that Practiced bunch of Chicago criminals, landed in the WH they did two things that were apparently crucial to their evil plans
(a) they took control of the US Census;
(b) Obama placed his COS Rahm Emanuel in control of the US Dept of the Treasury (cabinet-level agency oversees IRS).
THE SMOKING GUN---WSJ REPORT--On Jan 20, 2009 Timothy Geithner was appointed Obama's Secy of the Treasury. But within three weeks, the Obama White House tightened its grip on Treasury. Obama put his COS, Rahm Emanuel, in charge of Treasury---Rahm Emanuel's dual role was an unusual move.
When he got to Treasury, WH COS Rahm Emanuel was so involved in the inner workings of the Treasury that the phrase "Rahm wants it" had become an unofficial mantra among subservient govt staffers, prostrate in obeisance, scurrying to accede to Rahm's wishes, according to Treasury government officials. Reported by WSJ / 05/31/09
SOURCE http://online.wsj.com/article/SB124113406528875137.html
PAUSE TO REFLECT First-term Obama had tight control of Treasury; Obama calculatedly placed his then-COS Rahm Emanuel in a dual role.......in the WH and at Treasury. Obama had a stranglehold on Treasury via COS Rahm Emanuel's dual role Read on.
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THE SMOKING GUN---WSJ REPORT--On Jan 20, 2009 Timothy Geithner was appointed Obama's Secy of the Treasury. But within three weeks, the Obama White House tightened its grip on Treasury. Obama put his COS, Rahm Emanuel, in charge of Treasury---Rahm Emanuel's dual role was an unusual move.
When he got to Treasury, WH COS Rahm Emanuel was so involved in the inner workings that the phrase "Rahm wants it" had become an unofficial mantra among subservient govt staffers, prostrate in obeisance, scurrying to accede to Rahm's wishes, according to Treasury government officials. Reported by WSJ / 05/31/09
More here: http://online.wsj.com/article/SB124113406528875137.html
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EXCERPT---FOURTEEN TRILLION DOLLARS Behind The Real Size of the Bailout; A guide to the abbreviations, acronyms, and obscure programs that make up the $14 trillion federal bailout of Wall Street
SOURCE motherjones.com
Mon Dec. 21, 2009 12:23 PM PST
The price tag for the Wall Street bailout is popularly put at $700 billion—---the actual size of TARP--the Troubled Assets Relief Program. But TARP is just the best known program in an array of more than 30 overseen by Treasury Department and Federal Reserve that have paid out or put aside untraceable money to bail out financial firms and inject money into the markets.
To get a sense of the size of the real $14 trillion bailout, see MJ chart at web site. A guide to the pieces of the puzzle includes massive untraceable Treasury Department bailout programs.
Money Market Mutual Fund: In September 2008, the Treasury controlled by Obama/Emanuel announced that it would insure the holdings of publicly offered money market mutual funds. According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), these guarantees could have potentially cost the federal government more than $3 trillion [PDF].
Public-Private Investment Fund: This joint Treasury-Federal Reserve program bought toxic assets from banks and brokerages—as much as $5 billion of assets per firm. According to SIGTARP, the government's potential exposure from the PPIF is between $500 million and $1 trillion [PDF].
TARP: As part of the Troubled Asset Relief Program, the Treasury controlled by Obama/Emanuel made loans to or investments more than 750 banks and financial institutions. $650 billion has been paid out (not including HAMP; see below). As of December 21, 2009, $117.5 billion of that has been repaid.
Government-sponsored enterprise (GSE) stock purchase: The Treasury controlled by Obama/Emanuel bought $200 million in preferred stock from Fannie Mae and another $200 million from Freddie Mac [PDF] to show that they "will remain viable entities critical to the functioning of the housing and mortgage markets."
GSE mortgage-backed securities purchase: Under the Housing and Economic Recovery Act of 2008, the Treasury controlled by Obama/Emanuel may buy mortgage-backed securities from Fannie Mae and Freddie Mac. According to SIGTARP, these purchases could cost as much as $314 billion ---SNIP---.
LONG READ---go to web site to read more and checkout the shocking financial charts.
SOURCE http://motherjones.com/politics/2009/12/behind-real-size-bailout
Yes, and my recollection was that in nationalizing student loans to pay for 0bamacare, they were supposed to hike the interest rate. When it came time to implement same, the people who are clamoring for Bernie to pay off stupid loans with our money were the same ones who screamed like little piggies at the prospect of their interest rates going up. And I thought the cancelled the rate increase.
Thus, they already abandoned the phoney baloney numbers they tried to cook into the books to make 0bamamcare look fiscally sustainable.
Now they just don’t care what the numbers say since they have their program, thanks to Justice Roberts.
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