Box of Rocks

[coorslite21]

Interesting that 30 years in Congress........80 years of age...........Chair of the Financial Services..........has no idea on how the Student Loan Crisis of $1.5 Trillion occured....

 

The video is priceless.......CL

 

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https://ijr.com/waters-gets-reminder-government-funds-student-loans/

 

Maxine Waters Gets a Reminder That the Government Funded the Student Loan Crisis, Not Big Banks

Madison Dibbleabout 19 hours ago3.7kViews 4Comments

During a House Financial Services Committee hearing with “megabank” representatives, Chairwoman Maxine Waters (D-Calif.) got a lesson on the student loan crisis in the United States after she attempted to place the blame on big banks.  Several of the largest banks in the United States had representatives present to discuss the recovery and sustainability of the financial system in the United States one decade after the 2008 recession. At one point during the hearing, Waters tried to tie the current student loan crisis to big banks, asking those present to explain what they’re doing to help student borrowers. To Waters’ surprise, none of the banks she questioned had any part in financing student loans, largely because the government took that over.

Watch the video below:

“Today, there are more than 44 million Americans that owe — there’s a student loan crisis. $1.56 trillion in student debt. Last month, this committee received testimony that, last year, 1 million student loan borrowers defaulted, which was on top of the 1 million borrowers who defaulted the year before. What are you guys doing to help us with the student loan debt? Who would like to answer first?”

None of the bankers stepped forward to answer because none of them were involved in student lending. Waters was forced to call on Brian T. Moynihan, the CEO and chairman of Bank of America.

 

“We stopped making student loans in 2007 or so,” Moynihan explained, catching Waters off guard.

Michael L. Corbat, the CEO and chairman of Citigroup, noted that his bank exited in 2009.

 

Jamie Dimon, the CEO and chairman of JPMorgan Chase, put an even finer point on his answer, directly pointing to government intervention as his bank’s reasoning for abandoning student loans.

 

“When the government took over student lending in 2010 or so, we stopped doing all student lending,” Dimon explained.

As the bankers noted, the U.S. government largely took over student lending and, under former President Barack Obama, they added approximately $1 trillion to the total U.S. student loan burden.

 

It looks as though there is a monolith who is responsible for giving students loans they cannot afford to pay back, it just isn’t the banking industry — it’s the government.

 

 

[Indraman]

Bump! 

 

If ever there was an example of "The INMATES Ruling The ASYLUM", this is IT!!!

 

Auntee Maxine needs to take her meds...cognitive skills are quite lacking.

 

Indy

[learning all i can]

I have never thought or known that women, (even blondes)( lol) could be so stupid and just down right evil.  Not only is her mouth to big for her face but it spews hate, corruption, ignorance and blame towards every human being  on the face of this earth.  It sickens me to hear her voice and look at the ugliness she has plagued all women with.  If there has ever been a women that has abused the freedom of speech, she is it.  Not only could both feet fit in to that wide-loud-mouth but she could actually swallow her body whole.  As a woman, I can see why men look at our gender as ignorant fools and should still be bare foot, pregnant homemakers only allowed out of the house to go buy groceries.  She has darkened ever womans path and ability to be accepted in todays society.  

barb

[Karsten]

Here she is again running the show from her Bully Pulpit and showing just how rude she really is.

 

Karsten

[nstoolman1]

[coorslite21]

 

[learning all i can]

1 hour ago, coorslite21 said:

 

is that the most hateful, ugly woman I've ever seen?  Why yes, yes it is!

Edited April 11, 2019 by learning all i can
Just because

[yota691]

These college loans is a big problem. The debt is bigger then all the credit cards debt. Big Scam IMO an the College's love it..Everybody gets paid well, teach the hate to the young adults. All on the dime of the taxpayers...