Free Republic

Joe Biden, his Administration, and The Federal Reserve are really “The Alligator People.” Despite what they tell you, they have small brains (particularly Biden) and are hyperfocused on spending. A good example comes from “Wall Street On Parade” where they show that The Federal Reserve is still paying BILLIONS to US Treasury in the form of remittances (losses). While at the same time, paying the mega banks on Wall Street high interest loans. As of April 3 of this year, the Federal Reserve (Fed) has racked up $161 billion in accumulated losses. We’re not talking about unrealized losses on the...

President Joe Biden will announce Monday that student debt held by ten million Americans will transfer to taxpayers, White House officials told reporters Monday. The plan to convey student loan debt to taxpayers is widely seen as a political move to gain electoral traction among young voters, who largely do not approve of Biden’s leadership. Taxpayers can expect to absorb about $5,000 for each of the ten million students, according to the plan Biden is set to tout in Wisconsin. Overall, Biden intends to cut the amount that 23 million students owe on their loans, placing the burden on taxpayers...

There used to be a saying: "As goes California, so goes the nation." Bear in mind that the first time I remember hearing that the Governor of California was a man named Ronald Reagan, you may have heard of him. These days, we should be terrified at the very idea of California taking its fiscal train-wreck policies on the road. Under the current governor, the impeccably coiffed Gavin Newsom, California has gone from a state with a budget surplus to facing almost $70 billion in debt. Yes, that's "billion" with a "B."That isn't stopping the state of California from coming...

WASHINGTON — Small businesses in Fayette County affected by the collapse of the Francis Scott Key Bridge in Baltimore are eligible to apply for U.S. Small Business Administration low-interest loans. Fayette is one of eight Pennsylvania counties where small businesses, small agricultural cooperatives, small aquaculture businesses, and private nonprofit organizations now are eligible for Economic Injury Disaster Loans, which carry interest rates of 4% (3.25% for private nonprofit organizations) and have terms of as long as 30 years. Businesses can borrow up to $2 million to pay operating expenses if their revenues dropped due to the disaster. Businesses in Maryland;...

....A California Democratic assemblymember's new bill states that an individual's immigration status can't disqualify an applicant from the program.... ...The bill is set to expand eligibility criteria for a state loan program to expand these loans to include undocumented migrants that are first-time buyers.... ....The bill focuses on the California Dream for All Shared Appreciation Loans program, which launched spring of 2023 to give qualifying first-time home buyers a loan that covers up to 20% of a property’s purchase price that will not accumulate interest or have required monthly payments .... ..."Folks, the bipartisan border security bill is a win...

History demonstrates that attempts to “cure” a problem by exceeding the federal government’s constitutional powers generally lead to more and worse problems... “A rage ... for an abolition of debts ... or for any other improper or wicked project ....” — James Madison, Federalist No. 10.. The courts, in the exercise of what is called “equity jurisdiction,” have long excused borrowers from obligations incurred through fraud, duress, and other forms of creditor unfairness.. In addition, federal bankruptcy laws (authorized in the Constitution by Article I, Section 8, Clause 4) offer a path to safety for debtors who get in over...

On Thursday’s broadcast of “CNN This Morning,” Biden Campaign Co-Chair Rep. James Clyburn (D-SC) stated that President Joe Biden’s student loan program “is not giving anybody’s money away” because the people who got “forgiveness” “have already paid back” their loans. Clyburn said, “I think we need to explain to people what is going to happen going forward. It’s one thing to eliminate the loan, the debt that’s already been accumulated. What they did yesterday, about 1.5 billion, that’s added on top of the 137 billion that has already been forgiven. Going forward, every two months, for the next four years,...

The White House said Wednesday it is canceling $1.2 billion worth of student loans for some 153,000 people, moving forward with a piecemeal solution to its debt forgiveness pledge after the Supreme Court struck down an earlier scheme to cancel $430 billion. “With today’s announcement, we are once again sending a clear message to borrowers who had low balances: if you’ve been paying for a decade, you’ve done your part, and you deserve relief,” Education Secretary Miguel Cardona said in a statement. “Under President Biden’s leadership, our Administration has now approved loan forgiveness for nearly 3.9 million borrowers, and our...

The Biden administration's latest plan to "cancel" student loan debt extends to those struggling to repay loans due to financial "hardship." The proposal was devised under the Education Department’s existing rulemaking powers after the Supreme Court struck down Biden’s original student loan bailout plan. A number of factors are set forth in the new proposal to determine hardship, “such as a borrower’s total student loan balance and required payments relative to household income, and whether a borrower has high-cost burdens for essential expenses like healthcare or childcare,” the press release states.The current regulatory process builds on the Biden-Harris Administration’s efforts...

The House Committee on Oversight and Accountability has released a transcript of its impeachment inquiry interview with a representative of Americore, the now-bankrupt healthcare company that loaned presidential brother James Biden hundreds of thousands of dollars before it went under. Carol Fox, the trustee who represented Americore during its bankruptcy proceedings, said she could neither determine what role James Biden played nor identify any paperwork backing up the loans made to him from the struggling company in 2018. According to the transcript of her testimony reviewed by Just the News, Fox told the committee that Biden purportedly provided consulting services...

In the ever-evolving landscape of financial markets, a red flag is waving high as market concentration risk reaches an unprecedented peak. The Top 10 stocks in the Russell 1000 now hold a staggering 31.3% of the index, marking a historic high and raising questions about the sustainability of the current market euphoria. The earnings gap between Mega Cap Tech Stocks and Small Caps has widened to an all-time high, creating a stark dichotomy in the performance of different segments of the market. As history unfolds, it’s vital to pay heed to the lessons of the past, where the most significant...

In the intricate web of financial markets, the tightening of credit spreads often serves as an ominous overture to broader economic shifts. The current scenario, driven by a focus on liquidity, raises concerns about what lies ahead, hinting at potential storm clouds on the economic horizon. The ripple effects begin with a spotlight on auto loans, where many find themselves submerged in financial challenges. A concerning trend emerges as individuals resort to running up credit, not with the intention to repay but rather to navigate the inflated prices of goods. The influx of excessive government money has created a surge...

Tucked into a footnote in a letter written by former federal judge Barbara Jones, the court-appointed special monitor overseeing Donald Trump's New York business fraud case is a bombshell that appears to indicate the former president may have engaged in massive tax evasion, according to a new report released by The Daily Beast. The letter, first reported by The Messenger, was delivered Friday to update Manhattan Supreme Court Justice Arthur Engoron on Jones' findings while reviewing the former president's business dealings through his company, the Trump Organization. In it, Jones writes that the financial information filed to her by Trump's...

On Friday, the Biden administration announced they were canceling the loans of another 74,000 student loan borrowers, hiking the total number of people who have gotten their debt canceled to over 3.7 million Americans. The Biden administration has been ignoring the Supreme Court, which struck down Biden’s student loan relief plan last June, because it had not been approved by Congress. The Supreme Court’s 6-3 decision resulted from the six conservative justices voting to strike down the plan while the three leftist justices opposed them. The Biden administration had cited the 2003 Higher Education Relief Opportunities for Students Act (HEROES...

President Joe Biden announced on Friday that his administration was canceling nearly $5 billion in student loans impacting nearly 74,000 borrowers. Most of the forgiveness goes to 44,000 borrowers who have spent more than 10 years in public service working as teachers, nurses, firefighters and other positions, while the remaining 30,000 are borrowers who have been in repayment for at least 20 years without receiving relief, the White House said.

Last week, the Biden-Harris Administration announced a plan to accelerate the forgiveness timeline for the Saving on a Valuable Education (SAVE) Plan.Starting next month, eligible borrowers - those who have made at least 10 years of monthly payments and initially borrowed $12,000 or less for college expenses - will have their entire balances forgiven.The Education Department is fast-tracking this debt relief months ahead of the original July 1, 2024 date.“Beyond being the most affordable student loan repayment plan ever available, the Biden-Harris Administration designed the SAVE Plan to put community college students and other low-balance borrowers on a faster track...

Some Americans will get their student loans canceled in February as Biden accelerates his new plan WASHINGTON (AP) — The Biden administration will start canceling student loans for some borrowers in February as part of a new repayment plan that's taking effect nearly six months ahead of schedule. Loan forgiveness was originally set to begin in July under the new SAVE repayment plan, but it’s being accelerated to provide faster relief to borrowers, President Joe Biden said Friday. It’s part of an effort “to act as quickly as possible to give more borrowers breathing room” and move on from their...

Ah, here we go. Just like we thought would happened. Almost like we wrote the script ourselves. And all the excuses the Biden administration put together for absolutely forgiving student loan debt coming to life in one irresponsible package. Of course, when you’ve already got a get-out-of-credit-report-jail-free card handed to you by Crusty Claus and his gang of thieving education elves, whut? You worry? Aw, hell to the nah. 🚩Red flag in student loan payments: 40% missed their payments in October this year, a stark jump from 26% in 2019. An overlooked warning of economic stress? pic.twitter.com/NqpofkJN0y— Michael Burry Stock...

In the United States, federal student loans are typically guaranteed by the government. This means that if a borrower defaults on their federal student loan, the government steps in to ensure that the lender (usually a private financial institution) does not face significant financial losses. The government either pays the loan in full or guarantees a portion of the outstanding balance. However, this guarantee does not absolve private lenders from all risks. Private student loans, which are not guaranteed by the government, may pose a greater risk to lenders if borrowers default. In such cases, the lenders may face losses...

resident Biden's administration has begun probing the nation's largest banks to assess their plans to mitigate climate risk with their loans and business. A recent "discovery review" led by the U.S. Treasury Department's Office of the Comptroller of the Currency (OCC) looked into more than two dozen banks to determine how they are accounting for climate risk in their loans and investment strategies, in addition to investigating how they manage energy finance and greenhouse gas emissions, Reuters first reported. The purpose of this review is to supervise bank activities and support the effective management of climate-related financial risks among institutions...