1. Address the #schoolloan crisis by amending Sec. 523 of the #Bankruptcy Code to make predatory loans dischargeable.
In 2008 we watched as the home mortgage crisis made home loans less attrative to the securitization industry so it turned on our kids. Essentially turning them
In 2008 we watched as the home mortgage crisis made home loans less attrative to the securitization industry so it turned on our kids. Essentially turning them
2. into living collateral who, because of the non-discharge provisions and debt limits, now have no way out. US schools and lenders and possibly taxpayers have to accept a share in the disaster.
3. Address the crisis by amending the Bankruptcy Code sec. 523 and Chapter 13 unsecured debt limits to make the loans dischargeable. Look at the bloated endowments many schools have created in this bubble as a souce of tax revenue for possible lender bailouts.
4. And for the greedy predatory bondholders? A trip to Bankruptcy Court for a haircut. @GoldmanSachs @USTreasury @JoeBiden @BernieSanders @ewarren @SpeakerPelosi @SenSchumer
