Ace of Spades HQ

March 26, 2013

Early morning Doom - student loan writeoffs [Purp]
— Open Blogger

... Banks wrote off $3 billion of student loan debt in the first two months of 2013, up more than 36 percent from the year-ago period, as many graduates remain jobless, underemployed or cash-strapped...

You're welcome.
Don't panic, wreckovery summer v4.0 is on the way.

Openize the doomcasting.

Posted by: Open Blogger at 02:32 AM | Comments (29)
Post contains 67 words, total size 1 kb.

1 DAY 140 1,320 to go (1,395 to Inauguration Day 2017) Muzzies, Marxists, Maoists, Mau-Maus, MFM's, Moochelle, McCain's, MIRV's, mutants, malcontents, malthusians, maniacs, malignant medical mandates, miscreants, maladjusted masochistic multiculturalists, momzers, mamalukes, mooks, mariuoli, meeskeits, maricons, marauders, malodorous militants, menstruating mons veneri and miscellaneous meshugas notwithstanding.

Posted by: J.J. Sefton at March 26, 2013 02:33 AM (tqLft)

2 Unless it's the new math, we're coming up to Wreckovery Summer 5.0, am I right?

Posted by: J.J. Sefton at March 26, 2013 02:34 AM (tqLft)

3 good morning early rising morons.

Posted by: Endeavor to Persevere at March 26, 2013 02:34 AM (zZJJp)

4 Not it!

Posted by: Roland THTG at March 26, 2013 02:35 AM (qyoyx)

5 I heard the SCOAMF isn't nearly as popular with the Kollege Kids as he was in '08. I wonder why.

Posted by: SCOAMF Search Committee at March 26, 2013 02:35 AM (uSgFt)

6 >> I wonder why. Rand Paul and drones can't be helping that demographic either.

Posted by: Endeavor to Persevere at March 26, 2013 02:38 AM (zZJJp)

7 We don't have to worry about bank write offs -- the US gubmint now is the primary issuer of student loans.

Expect an 'amnesty' in our near future.

Posted by: GnuBreed at March 26, 2013 02:39 AM (ccXZP)

8 Banks wrote off $3 billion of student loan debt in the first two months of 2013, up more than 36 percent from the year-ago period, as many graduates remain jobless, underemployed or cash-strapped...

Let's not forget that the government took over those loans by executive fiat several years ago. They knew it was going to go bust.

So in effect, we bailed them out. And one other thing, these loans are not allowed to be discharged by bankruptcy. The government may write them off but technically these students still owe them.

Posted by: Vic at March 26, 2013 02:40 AM (53z96)

9 I heard the SCOAMF isn't nearly as popular with the Kollege Kids as he was in '08.

The ones who were sucking his dick then, are sucking dick now for fivers at truck stops.

Posted by: @PurpAv at March 26, 2013 02:40 AM (/gHaE)

10 I live near a small Ohio town, very rural. Went in to the Post Office, and there was this 20 something girl with a table set up right by the street with a big poster of Obama sporting the El Marko Hitler stache. She was cleaning up on donations. Loan problem solved.

Posted by: Opus An Arcus at March 26, 2013 02:43 AM (IuDA4)

11 Thats right, Vic! Because bailouts are only bad when they're for people who produce a good or service. And....racism. ....... God put too many assholes in the world, didn't he?

Posted by: Sean Bannion at March 26, 2013 02:45 AM (dN8J1)

12 Dragon is about to be released from the ISS, in about 10 minutes: http://www.nasa.gov/multimedia/nasatv/index.html

Posted by: rickl at March 26, 2013 02:45 AM (sdi6R)

13 And to think I used up my GI bill and killed my savings to pay for me and Ts degrees Sucks to be me Not as bad as my mom who waited to come here legally from Mexico though

Posted by: Navycopjoe at March 26, 2013 02:46 AM (yMSN1)

14 I think I read about a 15 year forgiveness in that student loan shit too. If you can shine them on for 15 years with occasional dribs and drabs payments and make it look like you're "trying", it won't be too hard to run that clock down.

Posted by: @PurpAv at March 26, 2013 02:48 AM (/gHaE)

15 Thats right, Vic! Because bailouts are only bad when they're for people who produce a good or service. And....racism.

.......

God put too many assholes in the world, didn't he?

Posted by: Sean Bannion at March 26, 2013 06:45 AM (dN8J1)

No, all bailouts by taxpayers are by definition bad AND unconstitutional.

Remember long ago when NYC came begging for a bailout the first time? At that time everyone, even Democrats, said it was unconstitutional.

They don't even think twice about it now. That is how far we have sunk.

Posted by: Vic at March 26, 2013 02:48 AM (53z96)

16 Interesting article from Zerohedge: http://tinyurl.com/buwy4av Why, one might almost think that there are different sets of rules for the big boys vs. the small fry.

Posted by: rickl at March 26, 2013 02:48 AM (sdi6R)

17 headlines up

Posted by: Vic at March 26, 2013 02:49 AM (53z96)

18 The ones who were sucking his dick then, are sucking dick now for fivers at truck stops. Addressess or it isn't happening. ;-)

Posted by: rickb223 at March 26, 2013 02:49 AM (d0Dmj)

19 My son, a police ociffer, Just graduated and got his student loan bill. Borrowed 17k, at 7.99% interest 2 years ago. Payoff is 19k. Why? He has to pay the interest whetner early payoff or not. Bailout? no, he works.

Posted by: Dennis at March 26, 2013 02:50 AM (GQxT/)

20 I've been trying to talk my soon-to-be high school grad to go to a tech school.

Posted by: Beefy Meatball at March 26, 2013 02:50 AM (i7B17)

21 No, all bailouts by taxpayers are by definition bad AND unconstitutional. Concur. I think you missed my invisible sarc tag there. I was parroting their general attitude.

Posted by: Sean Bannion at March 26, 2013 02:51 AM (dN8J1)

22 Speaking of which: 5.8% = unemployment rate, ages 55-plus 6.2% = unemployment rate, ages 35-44 7.8% = unemployment rate, ages 25-34 13.1% = unemployment rate, ages 20-24 23.0% = unemployment rate, ages 18-19 Regressive dystopia. The irony of course would be lost on young airheads who consider themselves liberal Democrats. And of course it goes without saying how the overall young demographic voted last year. Obama vs. Romney, ages 18-29: Obama prevailed, 60%-37%. Naturally.

Posted by: Tsar Nicholas II at March 26, 2013 02:55 AM (r2PLg)

23 real unemployment rate for all > 20%

Posted by: Vic at March 26, 2013 02:57 AM (53z96)

24 Those bad loans are the money going yo those scam schools. They should all be sued for the return of the taxpayers money

Posted by: occam at March 26, 2013 03:10 AM (IBl/3)

25 yeah....something tells me Ogabe gets his "I forgive theee" on anytime now,,

Posted by: sven10077-ArkLaTex travelogue and Researcher at March 26, 2013 03:18 AM (LRFds)

26 Why bother to pay when you know your sugar daddy is going to cover for you?

Posted by: Zombie John Gotti at March 26, 2013 03:55 AM (Gkhxf)

27 Well, thanks to the Obama economy, I am not paying my student loans because I do not earn enough to do so, and yet the Obama government pays my interest because of it. What a circle of idiocy! So, the pres and his cronies wreck our economy, then they borrow Chinese money to pay for the loans of those who cannot pay, all the while knowing that those who cannot pay are in that state due to their own plan! Wow, what a world....

Posted by: Pastor Angry at March 26, 2013 05:15 AM (0jX8P)

the sidebar comment about amanda knox is bullshit. she was never acquitted.

her conviction is overturned on appeal, and on further appeal a new trial was ordered. this is not double jeopardy.

Posted by: Dogstar at March 26, 2013 01:20 PM (OhsWQ)

and who gives a fuck about $3 billion in bad loans? the u.s. is a $15 trillion dollar economy.

wake me when something happens that is actually big enough to matter.

Posted by: Dogstar at March 26, 2013 06:28 PM (OhsWQ)

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