People are ok with corporate debt forgiveness, but not student loans

All money should go to the corporations so they can give massive bonuses to the CEO's. The money from the CEO's will trickle down to the unimportant people.

america is a country of spineless bootlickers who equate our current form of capitalism with the story of horatio alger.

one can only hope that the potential collapse of the economy is enough to get people out of their consumerist stupor.

dfa wrote:

Fed just announced a new facility to backstop corporate debt.

And yet this forum froths in their mouths when Warren brings up student loan forgiveness.

Discuss

Learn the difference between a backstop and loan forgiveness. A backstop is a loan guarantee much like we already have for student debt.

Forgiving your student loan debt only helps you. Forgiving corporate debt helps every owner of the company which is you and me and every American with a 401k.

math wizner wrote:

Forgiving your student loan debt only helps you. Forgiving corporate debt helps every owner of the company which is you and me and every American with a 401k.

you are a moron

Because an educated population doesn't help everyone?

Oh, and it helps the employees also while forgiving your student loan only rewards you for bad decisions.

math wizner wrote:

Oh, and it helps the employees also while forgiving your student loan only rewards you for bad decisions.

please, stop. i am embarrassed for you

Do you really not know what a backstop is?

Look. If I knew I had someone (rich parents) stopping me out for my student loans, I’d take out more loans too.

Do I have to use this simple analogy to explain it to you inbred nitwit?

dfa wrote:

Look. If I knew I had someone (rich parents) stopping me out for my student loans, I’d take out more loans too.

Do I have to use this simple analogy to explain it to you inbred nitwit?

Grow up and educate yourself (even if it means needing a loan).

Yes. My roommate has $50k in outstanding loans. I worked through college while he partied. I paid loans off after college while he travelled and bought a BMW. So why should society give him $50k and not give me $50k?

Honestly, the idea of blanket student loan forgiveness made me turn away from Elizabeth Warren, despite liking many other things about her.

In general, I don't like one-time 'band-aid' solutions to systemic issues. The deeper issues for student loans are disparities/inequities, but there has to be *some* market incentive to pick appropriate majors, schools, and time to graduate.

My wife and I took years to pay off student debt -- it was a burden and I don't wish that on others solely because we went through it -- but simply paying off a broken system is only going to exacerbate the problem.

As for right now, I hate what the Republicans are pushing for corporate welfare, and agree with everything the Democrats are trying to do for the working class, *except* for the d@mn $10k student loan forgiveness. That's just pandering and opportunistic.

Student loan burden is a marginal monthly cost at low interest with less of an affect on your credit score than other debt. In an emergency, like now, the monthly payments might be a challenge -- so yes, we can compassionately defer payments and interest through this crisis. Paying off $10k will have little to no impact on getting through the crisis, compared to many other alternatives. We need to help people take care of basics (health and health care, rent, jobs, utilities) -- an arbitrary chunk of student loans for some is far removed from those basics.

Yeah but answer the question.

Why are you ok with corporate debt forgiveness which is pretty much what backstop is.

loanpayer, What do you consider low interest? My Daughters student loans I thought had interest higher than I like. When I took out a student loan in the 80's the interest was much lower.

dfa wrote:

Yeah but answer the question.

Why are you ok with corporate debt forgiveness which is pretty much what backstop is.

It's not forgiveness. They have to pay it back just like TARP which was actually profitable to the US taxpayer.

It’s not forgiveness, but it’s akin to a kind sugar daddy (fed) promising a college girl he will make all her loan payments as long as she sucks dick.

You're attempting to conflate two things that are drastically different.

You're as economically illiterate as the Bernie Bros I see all over Twitter.

dfa wrote:

It’s not forgiveness, but it’s akin to a kind sugar daddy (fed) promising a college girl he will make all her loan payments as long as she sucks dick.

No, it's not. It's a loan guarantee, much like what already exists for student loans. Educate yourself. You were wrong and even after walking back your original idea you're still wrong.