Tuesday, August 28, 2018

protection for student borrowers diminished

Donald Trump's leadership
Passed along in email:

Students who may be urged to get a college education they can ill afford (and yet are conned into borrowing to obtain) are feeling the pinch. The fish apparently stinks, as always, from the head down.
The federal official in charge of protecting student borrowers from predatory lending practices has stepped down.
In a scathing resignation letter, Seth Frotman, who until now was the student loan ombudsman at the Consumer Financial Protection Bureau, says current leadership "has turned its back on young people and their financial futures." The letter was addressed to Mick Mulvaney, the bureau's acting director.
In the letter, obtained by NPR, Frotman accuses Mulvaney and the Trump administration of undermining the CFPB and its ability to protect student borrowers.
"Unfortunately, under your leadership, the Bureau has abandoned the very consumers it is tasked by Congress with protecting," it read. "Instead, you have used the Bureau to serve the wishes of the most powerful financial companies in America."
The letter raises serious questions about the federal government's willingness to oversee the $1.5 trillion student loan industry and to protect student borrowers.
There's so much money to be made from the gullible and Donald Trump is a money man, a guy to sell anything America does not have nailed down, a shill whose acolytes see what he gets away with and yearn to get away with it too. He rallies the discontents of a fan base and then -- oh, by the way -- fucks the offspring of that base.

Trump promises coal jobs, says employment rose by 45-50,000 on his watch and then is double checked by the facts which suggest something like 1.200 jobs were created as a result of actions taken by Trump's predecessor, Barack Obama. Trump stiffs the contractors who work on his properties ... you know, the ones who may have voted four-square for him. And the tax bill that  promises a trillion-dollar deficit that Republicans once railed against ... well, it's the money, honey.

It remains to be seen how the Democrats will shoot themselves in the foot when confronting a thief and a liar and a immoral man in the upcoming mid-term elections.

The times are pretty revolting.

1 comment:

  1. Sadly, most of the democrats money comes from folks who really just want more money for themselves and expect favors from the party to assist them in that. We're at that time in history where a sheriff rides in and demands taxes for the prince. If you don't pay you get poked with a sword. At least historically that was the method.