Obama’s government will have all your credit info in their hands with which to decide on a lot more about you.
Posted on 09/18/2009 11:03:59 AM PDT by pissant
Another month, and another attempt by the Obama Administration to take over a successful portion of the private sector. Banks, cars, and now student loans. I'm beginning to see a trend here.
Today, the House will complete consideration of the Student Aid and Fiscal Responsibility Act of 2009, otherwise known as the public option for higher education (not to be confused with the public option for health care -- but the similarties can't be overlooked). Advocates like the President maintain that if passed, this bill will bring a "level playing field" between government and private options. Sound familiar?
However, history tells us that when it's all said and done, the only one left standing on the "level" playing field tends to be the government.
Ending private sector competition in the student loan industry and making the Direct Loan program the sole provider will kill jobs, and greatly expand the control of the federal government. The Federal Family Education Loans (FFEL) program has been the overwhelming choice for student and parents for the past 40 years. In fact, 78% of all new federal student loans from 2007-2008 were administered through this program. Yet, the government wants to end it. It doesn't make any sense.
(Excerpt) Read more at thehill.com ...
Palin/Bachmann 2012
Give estrogen a chance...
Fascism dovetails business & government sectors into a single economic unit, while concurrently increasing in-fighting and distrust between the units fostering advancement towards war.
Cloward-Piven Strategy, aka Cloven-Piven (which is it? I don't know):
The strategy of forcing political change through orchestrated crisis. The "Cloward-Piven Strategy" seeks to hasten the fall of capitalism by overloading the government bureaucracy with a flood of impossible demands, thus pushing society into crisis and economic collapse.
Genuflect to ObamaGod or it's manual labor for life.
The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government.”
—Patrick Henry
I think you’re missing the big picture here. Banks make money by making loans. There are four major categories, home loans, car loans, business loans and student loans.
In the last 8 months, Obama has taken over the car loans by nationalizing the car industry, home loans (the government now directly backs 90% of all mortgage loans), and this takes over student loans.
With business in crisis in the midst of recession, no banks are making business loans, because the government is requiring them, under the new regulations, to back more of their debt and take fewer risks.
With all of their future income streams removed, how long until banks start failing? And when they do, who do you think is going to go into “never waste a crisis” mode and nationalize *all* the financial institutions of the United States.
There’s a word for the government nationalizing all finances while “working with” businesses. It’s called Fascism, and we are teetering on the brink of it.
Obama’s government will have all your credit info in their hands with which to decide on a lot more about you.
How long will it take to repair the damage being done by this administration?
How much irreparable damage has been / will be done?
Sorry, just a rhetorical question...
Ain’t life great, the messiah is charge!
Gee Thanks Bender for head up I did go back to school couple years ago be medical biller now Obama want personal Credit card numbers I don’t think SO
Seems like I read an article in the Sun Herald news about Obama wanting to forgive aged student loans. I see the twisted logic here, more Democrat voters receiving a pass on their student loan repayment.
Several months ago, I read something about Obama intending to take over all student loans. One of the requirements to get one would be several years of government service...
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