I'll have to tune-in on CSPAN to see the show-down on Student Loans. This is a dificult topic, as exciting as reading ingredients on a food label with lots of chemical sounding names.
I'm going to make no bones about this, I'm going to frame the issue by suggesting that one read this: Direct Lending: Why Obama's Student Loan Proposal Should be Adopted.
And then actually read this, tough read but imformative: Federal Student Loan Programs - History by The New America Foundation which is described by WIKI as "The Radical Center" and by SourceWatch.
Laughing Wiki is having a hell of a time with the "Radical Center"
but I ssure you that they exist, some have termed themselves "Radical Moderates" to really throw their centrist beliefs up against the statous quo..
Ok.. now where is the issue? Well click on either picture below or follow this page link, http://www.newamerica.net/programs/education_policy/federal_education_budget_project/basics/loan_rules
Well let me say that accounting abuse is not new... But the information I read at this website is acurate and the portrayal non-partisan.
Here is another side of the story...
Student-Aid Administrators Urge Lawmakers to Reconsider Killing Guaranteed Loans
And here is the NASFAA "conceptual framework" Note: this concept of course is 'batteries not included'...
And here is the way that the issue will be framed to the profane and unwashed...
For the record.. and I don't care who I piss off... I support the Obama plan and the OMB observation that by a reduction of information silos and duplication of services, will save tax payer money.
This ought to be interesting to watch on CSPAN. It will be interesting to see how this issue is handled?
I cannot make this shit up... read how the two accounting standards differ in the two pictures above... Somebody like Rush Limbaugh well he don't need to do no stinking reading, don't need no stinking facts... can't add or sbtract and has preached privatization his entire life.. Michael Steele a MD Republican, can add subtract, and probably follow the party line...
I was surprised to see the enators and congress critters preaching "eat the rich."
If the public understood the issue, it is like derivatives and CDO's they would not.. not... be amused.