One story that circulated around the time of the massive Government/Taxpayer bailout of the Banking and financial sectors at the time of "The Great Recession" really getting to "full tilt boogie" status went something like this:
Obama was just getting inaugurated, but both the McCain people and the Obama people were brought into the loop by the outgoing Bush economic team and it was eventually agreed upon by all that, as offensive as it was to some, one of the core priorities to stop the bleeding was to bring the banking and financial sectors (IE Wall Street at the upper echelon levels) back to profitability, back to normalcy. Which of course took an inordinate amount of questionable and none to transparent finagling and all kinds of guaranteed loans, 0% govt. loans, grants, subsidies, etc. etc.. Matt Taibbi wrote some of the very best expose essays on this subject early on and I think most of his analysis and reporting has come to be bourne out as "mostly true". There were a lot of reasons for this, and it worked out pretty well for "The Street". Bonuses were back to pre meltdown "norms" by the middle of 2008, I believe… long before most Americans even knew what fan it was that was blowing the shit on them. At any rate, it was early on that this under-reported network of "bailouts" was successful. So successful that I remember reading and being astounded by the little nugget that by mid 2009 the Real Estate market in the Hamptons had pretty much recovered and was back to "bid’ness as usual" and no harm no foul status. Again, most of America was just discovering what had hit them.
But my point in bringing this up is not to wring hands over the stanky awfulness of what went down. Rather it is to bring up the need to use the same model as a key component to a multi pronged "National Student Loan Forgiveness Act". More on this when I get back for ninth period…
So that is the b
From an email from Al Franken
They invest years of their lives and thousands of dollars to get a college education. And right when they’re about to enter the next stage in life, they get weighed down by student loan debt.
In this country, 40 million people owe student loan debt. That’s more than $1.2 trillion in outstanding student loans — an average of $29,000 per graduate.
Graduates could be spending that money on a downpayment on a first house. Or their first car and auto insurance. But too often they’re forced to put those things off in order to pay student loans.
And it’s not just graduates who are feeling the pinch. To help their children afford the rising cost of a college education, many parents and grandparents also share in the burden of debt.
The cost of college is holding back students and families.
For the "Race, Racism, and Black Live’s Matter" chapters…
Michelle Alexander is the author of the bestselling book The New Jim Crow: Mass Incarceration in the Age of Colorblindness (The New Press, 2010). The former director of the Racial Justice Project of the ACLU in Northern California, she also served as a law clerk to Justice Harry Blackmun on the U.S. Supreme Court. Currently, she holds a joint appointment with the Kirwan Institute for the Study of Race and Ethnicity and the Moritz College of Law at Ohio State University.
The full essay in the nation:
is an absolute "Must Read".
Contact this woman about what you are planning to advocate for and toward…