Thursday, September 17, 2009

Another government (i.e. Obama) takeover...

Read this one carefully and all the way through please... When I first started reading it I kind of shrugged my shoulders, a subsidy ends, could be good news... While I'm not real hot on subsidies, and maybe I'd like to find a different way to do this without them (that said without really looking into the history and details), it's another massive shift to government control of yet another area. Put this on your list of "watch and research".

Bill Would End U.S. Subsidy For Lenders of College Aid
9/17/09 The federal government would end its four-decade practice of subsidizing private lenders that make college loans under a bill the House took up Wednesday that would steer tens of billions of dollars in savings to student aid over the next decade.

Republicans and the lending industry say the bill would engineer a risky shift in higher-education finance that could prove costly to taxpayers and diminish quality of service to borrowers. But Democrats and the Obama administration say the government could save an estimated $80 billion by ending a subsidy system that they contend benefits banks rather than students... Click here to continue reading (opens new window)

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