Re: How the government banker bailout screwed me
The attitude of bearmarkettrader “Heres how the banker bailout screwed me” just irritates me. You were the one attempting to scam the system. You took advantege of the system hoping to get a free or cut rate education. Well it did not work. You screwed yourself. Too bad!! You got benefit from your loans and should pay them. You had prior knowledge of the system and sacrificed your honesty and ethics hoping not to pay legitimate loans. Would you go out and buy a house or car that you knew you could not afford and try to work the system to not pay for it? People like you are part of the problem, not part in the solution. That is the type of ethics too often practiced by big business, insurance, politicians and others. That type of attitude has to STOP!! And it needs to stop everywhere! It is quite interesting that you were going to law school. Well, I guess that is one stereotype that is true…at least in your case. For your information, the feds took over student loans because banks were dropping out of the student loan business and because of their shoddy business practices had great difficulty in honoring the loans that they had commited to. The feds took over to prevent the student loan system from total collapse. They did not take the system over to control or nationalize it. By the way, loans are frequently sold to other financial entities and the borrower still owes the whole amount.