RE: Forgive Student Loans? (Full Version)

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DomYngBlk -> RE: Forgive Student Loans? (10/18/2011 9:49:37 AM)

quote:

ORIGINAL: HeatherMcLeather

quote:

What am I missing
The banks make major campaign contributions.


Yeah that obviously but just trying to get the moral lesson to be learned here. If you are rich and run a bank and you completely fuck up all you need to do is run to the Gov't to bail your ass out....and that is morally just fine. Gives everyone a good idea to be "responsible".

But, if you are a family and you want to try and get ahead. Your kid qualifies for Morehouse and you go into debt to get that dream.......but the dream ends in the Great Recession and you can't pay your loan....you basically give up everything and can't go ask the gov't for help because that will show you a moral lesson?

How can anyone suggest that there isn't a problem there?



tazzygirl -> RE: Forgive Student Loans? (10/18/2011 9:53:27 AM)

There is a huge problem with that. Enter OWS.

When banks wanted help, they got it, because what happens to them directly affects those with both power and money.

When people need help, they are told to "get a job" and "learn fiscal responsibility"

[8|]

How long at this level of unemployment before those with power and money start to feel the pinch as a result of those without power and money who are no longer able to support them.



DomYngBlk -> RE: Forgive Student Loans? (10/18/2011 9:59:08 AM)

Its not only just the bailout. Hell you had the fed open up the troughs for any fuck to walk up and get money at Zero interest without a payback plan...seemingly. Who really knows cause it is "hush-hush". Investment companies getting the wand of the Treasury stuck over them to pronounce them "Banks".....so they could get money.

All I know you lend me 10 billion at zero interest for a year.....your gonna get your 10 billion back pretty easily. It is rules for "us" and "them". And that can't be argued



tazzygirl -> RE: Forgive Student Loans? (10/18/2011 10:00:00 AM)

An interesting comparison...



[image]local://upfiles/502828/894A61A2B2344D60907C90CC8F13B289.jpg[/image]



orchid77 -> RE: Forgive Student Loans? (10/18/2011 10:02:28 AM)

What I don't like is that there are forgiveness loan programs for some and not others. I for one would really benefit from a forgiveness loan program. I will be signing this....I mean why the hec not?



DomYngBlk -> RE: Forgive Student Loans? (10/18/2011 10:03:02 AM)

Commie



tazzygirl -> RE: Forgive Student Loans? (10/18/2011 10:04:33 AM)

lol



kalikshama -> RE: Forgive Student Loans? (10/18/2011 10:07:09 AM)

I need context...what's the URL?



kalikshama -> RE: Forgive Student Loans? (10/18/2011 10:11:23 AM)

quote:

So bailing out the banks and auto companies teaches good responsibility? What am I missing


I think there should have been investigations, indictments, prosecutions, and jail terms.

[image]http://notmytribe.com/wp-content/uploads/2011/09/adbusters-occupywallstreet-bankers-Y-U-No-in-jail.jpg[/image]







tazzygirl -> RE: Forgive Student Loans? (10/18/2011 10:11:37 AM)

http://curiouscapitalist.blogs.time.com/2010/02/10/rich-people-still-have-jobs-poor-people-dont/



DomYngBlk -> RE: Forgive Student Loans? (10/18/2011 10:16:28 AM)

quote:

ORIGINAL: kalikshama

quote:

So bailing out the banks and auto companies teaches good responsibility? What am I missing


I think there should have been investigations, indictments, prosecutions, and jail terms.


Ok, but reality is there aren't and weren't. you are still telling those people with big student loans to go fuck themselves and allowing people that were far more reckless to get away with it.



kalikshama -> RE: Forgive Student Loans? (10/18/2011 10:19:43 AM)

Thanks - this answered my question:

I didn't post about this yesterday because I had a question about the extent to which people fall into lower income brackets precisely because they are unemployed. Lose your job for a year, and there's probably a decent chance you've gone from living in a household that makes $60,000 a year household to one that makes $30,000, right? Then that's where you get counted as unemployed.

I emailed Andrew Sum and he wrote back:

The paper is based on family income including all other members of family and includes theoretically all cash transfers including unemployment insurance. It is true that a person who had a job a year ago and lost it and has no [unemployment insurance] coverage or other income can get pushed down to a much lower income but they are an overwhelming exception.

Then he said something else interesting:

We ran this model before the recession started and results show overwhelmingly that low income workers were far more adversely affected. There are few job losses at top.

---

At the end of calendar year 2009... workers in different segments of the income distribution clearly found themselves in radically different labor market conditions. A true labor market depression faced those in the bottom two deciles of the income distribution, a deep labor market recession prevailed among those in the middle of the distribution, and close to a full employment environment prevailed at the top. There was no labor market recession for America's affluent.



LillyBoPeep -> RE: Forgive Student Loans? (10/18/2011 10:19:56 AM)

quote:

ORIGINAL: DomYngBlk

quote:

ORIGINAL: kalikshama

quote:

So bailing out the banks and auto companies teaches good responsibility? What am I missing


I think there should have been investigations, indictments, prosecutions, and jail terms.


Ok, but reality is there aren't and weren't. you are still telling those people with big student loans to go fuck themselves and allowing people that were far more reckless to get away with it.


so very true. "what should be" and "what really happened" are two different things. "what should be" doesn't cancel out reality.
if the bajillionaire bankers get to shrug their debt off, why don't regular people?



kalikshama -> RE: Forgive Student Loans? (10/18/2011 10:22:26 AM)

quote:

ORIGINAL: DomYngBlk

quote:

ORIGINAL: kalikshama

quote:

So bailing out the banks and auto companies teaches good responsibility? What am I missing


I think there should have been investigations, indictments, prosecutions, and jail terms.


Ok, but reality is there aren't and weren't. you are still telling those people with big student loans to go fuck themselves and allowing people that were far more reckless to get away with it.


Either give me a magic wand for both situations or neither.



DomYngBlk -> RE: Forgive Student Loans? (10/18/2011 10:26:16 AM)

I agree red panties and I know you agree with what we are saying. I just scratch my head when one group in society are villified and the other is thought of to be so precious that we can't really "attack" them cause there are too few and we might force them to leave the companies they are at.....what in the world would happen then! lol




HeatherMcLeather -> RE: Forgive Student Loans? (10/18/2011 10:42:16 AM)

quote:

Either give me a magic wand for both situations or neither.
That is totally lame.



kalikshama -> RE: Forgive Student Loans? (10/18/2011 10:44:50 AM)

:)

I'll take the magic wand:

- Bailouts and prosecutions
- Refinancing
- Jobs in a robust economy
- Mandatory money management classes throughout school.



kalikshama -> RE: Forgive Student Loans? (10/18/2011 10:48:51 AM)

quote:

ORIGINAL: HeatherMcLeather

quote:

Either give me a magic wand for both situations or neither.
That is totally lame.


I felt like he was letting me magic wand the student loan situation but not the bank bailout situation.



HeatherMcLeather -> RE: Forgive Student Loans? (10/18/2011 11:00:05 AM)

I don't see it that way at all. the bank bailout is past, it is done and there isn't anything that can be done about it, but the student loan situation is one which is ongoing and is only going to get worse. One is history and the other is current, saying you would oppose fixing an existing problem because a previous problem wasn't solved in the manner you would have preferred is, as I said, totally lame. Like DYB said, you, and the system are telling poor people to fuck off. The result of that attitude is not only OWS, but the riots in England this summer as well.

The haves had better keep in mind that having nothing means having nothing to lose, and sooner or later, those without are just going to say enough is enough and take without asking permission. Ask Marie Antoinette or Anastasia how that works.



kalikshama -> RE: Forgive Student Loans? (10/18/2011 11:10:47 AM)

quote:

Like DYB said, you, and the system are telling poor people to fuck off.


He was giving me a hard time. He knows I'm with him.

quote:

I agree red panties and I know you agree with what we are saying.


I didn't say this:

quote:

saying you would oppose fixing an existing problem because a previous problem wasn't solved in the manner you would have preferred is, as I said, totally lame.


I said I'm against the fix of across the board student loan forgiveness. How did you come to the conclusion that I am against any and all actions?

Someone subsequently asked about the banks, and I responded to that.



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