Discover and read the best of Twitter Threads about #schoolloannightmare
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1. I spotted the mortgage meltdown coming when, in 2006, I was involved in a Delaware Bankruptcy that exposed the mortgage-backed securities underwriting flaws. As a Bankruptcy lawyer I detected how banks soon turned from securitizing underwater houses to securitizing our kids.
2. The fix for the #schoolloannightmare is to change the Bankruptcy Code. It's just some text in section 11 USC 523. Some lenders may struggle. We can deal with that. Let everyone who needs it have a fresh start. @BernieSanders @ewarren @JoeBiden #IowaCaucuses
3. Schools will have to adjust to a world where they can't depend on their students going into excessive debt. The ones who do will survive. The ones who don't will fail.
