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Industry Lobbying Imperils Overhaul of Student Loans [View All]

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ShockediSay Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-05-10 09:30 AM
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Industry Lobbying Imperils Overhaul of Student Loans
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Edited on Fri Feb-05-10 09:45 AM by ShockediSay
Source: NYTimes

Four months ago, it appeared all but certain that the White House and Democrats in Congress would succeed in overhauling the student loan business and ending government subsidies to private lenders.

President Obama called the idea a no-brainer last fall, predicting it would take billions of dollars from the profits of private lenders and give it directly to students, and many colleges were already moving to get loans directly from the federal government in anticipation of the next move by Congress.

But an aggressive lobbying campaign by the nations biggest student lenders has now put one of the White Houses signature plans in peril, with lenders using sit-downs with lawmakers, town-hall-style meetings and petition drives to plead their case and stay in business.

Read more: http://www.nytimes.com/2010/02/05/us/politics/05loans.h...



How is it we are supposed to be a democracy again?

Why should corporations get tax deductions for
lobbyists when all they do is bend 'round the
populist will of the majority?

Why even bother to vote when K Street, lobbyists
paid with tax deductions by corporations, and now
unlimited corporate money drive a basically fascist
Washington.

I just decided. I'll work on pro-democracy writing
campaigns, but until the corporations and the lobbyists
are out of the system, I boycott voting as a useless exercise.

PS maybe I'll vote for Obama again, because he's the one
chance we have to wake America up to what it's become.

Last chance Dems to make a dent with the last freely
elected majority...remove the tax deduction for lobbyists
and their outrageous fees!
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