Has anyone investigated the relationship of Wall Street to the Student Loan debacle? Remember, now that it is no longer possible to discharge Student Loan debt through bankruptcy, that debt is in a position to be packaged, securitized, and leveraged on Wall Street as mortgages were. I think we need to come to terms with the fact that the Student Loan dynamic has far less to do with paying for education and far more to do with creating investment instruments for Wall Street ... just like giving sub-prime mortgages to buyers who were in no position to ever pay off the mortgage in order to create funny money for Wall Street to play with.
Read the Article at HuffingtonPost
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