"we should punish prudent people who bought an asset with certain government guarantees and reward imprudent students who get to keep the asset that they purchased with the debt"https://twitter.com/EpsilonTheory/status/1143561069664845824 …
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that my parents want to invest money for their retirement. They go to an advisor, he gives them six options. He explains that one of them has 50% of its money in a portfolio of bank stocks (which in turn are 50% made up of student loans). They ask "is it safe?". He says >>>
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"yes, actually, safer than banks which invest in mortgages, as these aren't dischargeable in bankruptcy. The gov did that on purpose to protect lenders!" So that conversation happens, my folks invest ~20 years ago ... and today the proposal is "sorry, 30% of your assets gone" ?
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