Dick Durbin is at it Again

April/29/2012 18:55PM
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Dick Durbin wants to allow student loans to be part of bankruptcy.

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But, get this, only those student loans held by the private sector. Since Durbin and Obama changed the rules to have the federal government be responsible for all student loans, this is only about 7% of loans outstanding.

Current laws exempt student loans from bankruptcy. Durbin wants to make political hay with student loan holders by making a big deal of this exception.

Just as Obama wants to make a big deal of lowering student loan interest rates. But, only incoming freshmen this fall will get that benefit.

So in Durbin’s mind it’s OK to put it to the banks, but make it sound like he’s doing a big thing for all student loan holders.

These sleazy politics are the root of the disdain for all politicians. But, some, like Durbin, do it all the time. Others just work part-time.

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