Well, the top student lender watchdog of the federal government (the guy whose job it is to make sure that student debtors' rights aren't violated by powerful financial institutions) just resigned from his job.
Why, you ask?
Well, he makes three major points about the leadership at the Consumer Financial Protection Bureau (the agency for which he worked, now led by Mick Mulvaney):
- Leadership of the agency has undercut enforcement of the law
- Leadership of the agency has undermined the agency's independence
- Leadership of the agency actively shields bad actors from scrutiny
Now, I have a selfish interest in how the student debt industry operates, as I am a student debtor. I certainly hope that my parents (who paid for their entire respective educations with less than $10,000) care. I hope that my neighbors care, and I hope that the owner of Dawson's and the Union Jack care. After all, every dime that I send to an out-of-state student lender is a dime that I can't spend locally, and that hurts the local economy.
Well let’s face it , there are similarities between the high cost of education and the inflated cost of healthcare . Professors and administrators at colleges make ridiculously high salaries . CEO’s and bank executives get on the money train too and charge ridiculously high interest rates for student loans.
ReplyDeleteHospitals inflate their charges to enable them to pay CEOs millions of dollars . Ahem , Dan Evans $3.9 million dollars... remember THAT ?! How much does McRobie at IU rake in ? ( or McROBBERY , as my daughter’s classmate’s parents dubbed him ) Corruption at hospitals includes hiring high powered expensive firms to come in and tell them how to get rid of their experienced frontline workers that they deem make too much money so they may replace them with low cost new grads . ( oh but in a non obvious but sleezy , sneaky way )
I see one thing healthcare and education have in common ... greed .... money truly is the thing that corrupts man .
Money is the root of all evil ... second to the Internet ( LOL )
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