Occupy Wall Street Movement Spreads Across the World!

Good luck to your daughter, but like I just said to Puff, we the American People should not be on the hook for your daughter's loans.

I am kind of in the same situation. I am also in MD. I am a substitute with the school system. I probably sent out 100 job apps over the summer. But your daughter has experience, I don't. So, if she can't find a job, I'm really screwed.

Oh, by the way, I also have >$20K in student loans, and while I would like for them to go away, I don't see how that is ethical or right in any way.

 

i am.think of it this way.you go get a loan today.you know you cant pay it.so next week youre losing your home,your car,utilities being shut off.then you join the protests asking for that loan to be forgiven.how can i support that?you knew just like the dude in the picture that you couldnt afford it but did it anyways.thats not my fault and not the governments fault.

 

"i decree today that life
is simply taking and not giving
england is mine - it owes me a living
but ask me why and i'll spit in your eye
ask me why and i'll spit in your eye"

 

My daughter graduated in May 2006. At the time the economy was not in the dumps and she thot she would be gradually paying off the loans.

Unfortunately, instead of doing like Roosevelt did in the last depression, and hiring boondoggle workers just so the economy would keep going, Miami-Dade County has been laying off teachers, fire fighters cops and others. My daughter went with the first wave, not having seniority as a teacher.

So, it is not "taking out loans that they KNEW they couldnt afford" no more than taking on a mortgage that they could afford to make payments on until the jobs disappeared.

 

the economy was dropping in 06.this didnt happen overnight.explain how i am supposed to support those that took out loans and mortgages that they knew they couldnt afford?

i cant afford it but they are doing a no income verification loan,lets go get it and then cry its the governments fault that i cant afford.how can i support that?

take out a school loan without a good paying job cuz you cant go to school and have a decent job at the same time.whos fault is that?not mine and has nothing to do with me.

this movement is not gonna go far with that mentality.maybe i should bow out and walk aways cuz all youre doing is making the oppositions points more valid.

 

end the federal reserve.

 

The fed backed student loan is an engineered device to get young vulnerable people to be in debt forever barely paying off the interest rates. Schools got kickbacks for steering certain students loans to favored banks. Schools no longer had to keep tuition within fed. and state grant levels and costs exploded because kids had practically unlimited loan guarantees. I've been saying for years there's going to be a Student loan bubble.
On a side note. When I was in elementary school Reagan took away college benefits for orphans. Social Security used to pay for kids after high school that went on to college. He let the banks take over that chore.

 

have i called anybody stupid?no i havent.no need for name calling.


they knew the costs were doubled or tripled,they knew there werent any jobs,they knew they couldnt pay for it,now they want it wiped clean?

c'mon thats like you bringing your car to me needing a shit ton of work.i tell you its gonna take a month or 2 and gonna cost you 3,000.00.you say ok do it.well you loose your job or something comes up.car is done,i call and you say you dont have the money.im supposed to just give your car back and write off the 3,000.00 cuz you couldnt afford it when you dropped it off to me?

i just cant agree with that

 

blame the following:

- the fiat system of finance
- credit default swaps and similar dangerous derivatives
- easily available finance

 

i would like a 'protester' to answer a couple of simple questions

if it is the banks who were greedy - why did the consumer not question their ability to receive cheaper finance that inflated a tentative property market???

and why further, if the consumer is not too blame

why did the consumer then simply default on toxic liabilities such as the poor mortgages they accepted (knowing they could not afford to pay)???

the customer - being as clued up as they are

would have surely realised that by defaulting on their payments

due to the structuring of the banking industry

they were to leave the industry teetering on the edge of destruction.

 

seriously? We're talking student loans here. Loans you don't have to pay off until you graduate and presumably find a well-paying job. When I graduated high school I was encouraged to take out student loans. I was told over and over again, "There is no excuse not to attend college. The funds are there."

Graduating high schoolers have no idea if they'll be able to afford their student loans in 4 years or not. How could any naive 18 year old possibly predict that they won't be able to find a job when they graduate with a degree in 4 years.

I don't really think student loans should be forgiven, but its a little ignorant to assume an 18 year old is able to predict if they can pay off their student loans before they take the loan.

 

Rule of thumb with me- always be open to the very real possibility that I'm wrong.

 

Add to that:

- government dereliction of responsibility to regulate and protect the consumer
- the consumer for lack of due diligence in educating him/herself on what is being signed

 

we need protecting from ourselves now?

that's liberating.

the consumer does need to educate his or herself

and then take responsibility for their actions.

 

who does a tax cut benefit again???

 

the day things in life become free

you must ask yourself - am i the customer

or perhaps the product??

we all knew what the cost of cheaper finance was.

everybody is to blame.