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What Wall Street and credit card companies are doing is really not much different from what gangsters and loan sharks do who make predatory loans. While the bankers wear three-piece suits and don't break the knee caps of those who can't pay back, they still are destroying people's lives.
Like many other banks and finance companies, Green Tree used a process called securitization to resell its home loans to outside investors. Green Tree grouped thousands of these small loans into a pool worth hundreds of millions of dollars.
By making college unaffordable and student loans unbearable, we risk deterring our best and brightest from pursuing higher education and securing a good-paying job.
Increasingly, the real estate developers can't get bank loans for their project financing in China. They're now going into the Hong Kong market to raise money in the bond market at very, very high rates, as high as 15, 20 percent.
What people don't realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The banks were never bailed out - they just exchanged their bad loans for questionable bonds from quasi-state organizations.
Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans.
Nobody wants to read about the honest lawyer down the street who does real estate loans and wills. If you want to sell books, you have to write about the interesting lawyers - the guys who steal all the money and take off. That's the fun stuff.
Poorer students take out larger loans and will have to contribute more to the cost of higher education.
Imagine if, in the aftermath of Hurricane Katrina, Gulf Coast residents had to wait on Democrats and Republicans to agree on cuts before receiving clean water or loans to rebuild. Congress' negotiations often come slow or not at all.
And I think the more money you put in people's hands, the more they will spend. And if they don't spend it, they invest it. And investing it is another way of creating jobs. It puts money into mutual funds or other kinds of banks that can go out and make loans, and we need to do that.
The higher amount you put into higher education, at the federal level particularly, the more the price of higher education rises. It's the dog that never catches its tail. You increase student loans, you increase grants, you increase Pell grants, Stafford loans, and what happens? They raise the price.
Private student loans should be avoided at all costs.
For-profit higher education is today a booming industry, feeding on the student loans handed out to the desperate.
Since most American students cannot simply pay their full tuition out of pocket, financing a college education often takes the form of loans, both private and from the government.
Charles B. Rangel
The rising costs of higher education coupled with the stress of paying student loans are putting increasing pressure on students.
China's idea of fair trade is government subsidies of its textile and apparel exports to the United States, currency manipulation, and forgiveness of loans by its government banks.
And we can see the positive impacts right here at Solyndra. Less than a year ago, we were standing on what was an empty lot. But through the Recovery Act, this company received a loan to expand its operations. This new factory is the result of those loans.
And I think it's that time. And I think if you just step aside and Mr. Romney can kind of take over. You can maybe still use a plane. Though maybe a smaller one. Not that big gas guzzler you are going around to colleges and talking about student loans and stuff like that.
Bad debt is debt that makes you poorer. I count the mortgage on my home as bad debt, because I'm the one paying on it. Other forms of bad debt are car payments, credit card balances, or other consumer loans.
Engineering undergraduates should not be charged fees. They should receive grants, not student loans, and the government will get the money back long-term from increased exports.
Your credit score affects the interest rates you're offered on credit cards and loans, can be used to vet your job application, and in some states may influence your insurance premiums.
Debt is part of the human condition. Civilization is based on exchanges - on gifts, trades, loans - and the revenges and insults that come when they are not paid back.
Americans are gathering the courage to just say no. We are saying no to addictive consumer lifestyles. We are saying no to wars and corporate takeover and the IMF loans that gobble up people and their resources.
We need to align the incentives so that colleges have an incentive to keep down their costs... to graduate students on time with degrees in areas where they're going to be able to get jobs and going to be able to pay back those loans.
Part of Obamacare eliminated the private sector financial market that engages in giving college student loans. I mean, now the federal government has taken over college student loans, so I sit back and strategically look at this and say this just cannot be happening.
A. P. J. Abdul Kalam
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