December 9, 2013
Wonketteers are all latte-drinking Prius-driving libruls, so they are all probably avid New York Times readers who are very familiar with the Times’ ongoing series on income inequality, “The Great Divide.” But just in case! Today’s installment is a cheery essay by Joseph Stiglitz, titled “Student Debt and the Crushing of the American Dream.” Doesn’t [...]
Are you STILL capable of being surprised by structural inequality, including but not limited to women and minorities’ inability to take advantage of various financial opportunities? Eh, us neither, we are used to it by now, but just in case we accidentally become inoculated, let us learn about the current instantiation of redlining in Chicago.
Marijuana is a SUPER RISKY drug you guys, we don’t know if you knew that, but David Frum is giving out free advice today about the dangers of marijuana, and how it leads to you not understanding your home loan and something about structural racism/classism in higher education. No, seriously, THIS IS WHAT HE IS [...]
Here, enjoy this video of Chris Christie screaming at a reporter from New York who has the NERVE to ask him a follow-up question about the foreclosure fund. Why is New Jersey dead-last in the nation in terms of implementing a bunch of programs to help homeowners avoid foreclosure, the reporter may have wanted to [...]
Do you have a career? Because if so, you are probably an Old or a Rich, given that they are not just letting people have careers anymore. See, careers are now for the idle wealthy, and the rest of us people can look forward to a life of hustling from one freelance gig to another, [...]
Yesterday, we learned a lot of fun facts about the one trillion dollar student loan bubble! Like the fact that student loans (unlike any other unsecured line of credit) cannot be discharged in bankruptcy, so the debt will never, ever go away, not even if you die, and that banks will even garnish your social [...]
Oh LOOK someone has decided to do something about the gigantic loan bubble (student, not housing) in the form of commissioning a report from the Consumer Protection Bureau, and YAY Senator Dick Durbin (D-Ill) has gone ahead and followed the recommendations of the report, introducing not one, but TWO bills on private student loans! TWO! [...]
Harried Money Emperor Ben Bernanke testified in Congress again today about upcoming financial regulation measures and apparently pleased the Socialists by saying that increased transparency won’t do the trick — you have to straight-up ban certain financial instruments, starting with, say, the ones where lenders throw trillions of dollars of credit at random hobos without [...]
Riddle us this, finance experts: why would you go to all the trouble of (allegedly) forging a bunch of documents in order to get a $74 million loan and then repay the loan all quick-like once it became clear that Johnny Law was onto you? So much effort for a bunch of money you apparently [...]
Eliot Spitzer has a great idea for making college more affordable! Ha, not really. But he has an idea about how we can make it possible for people to pay back their $160,000 loans from undergrad without ending up in debtor’s prison.