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Praise

An example of good government.

Aug 27, 2018 6:32PM PDT

This just in, on the workings of the bureau tasked with protecting student borrowers from the sometimes predatory actions of contracted managers of student loans.
"The CFPB’s student loan office has returned $750 million to harmed borrowers since it was created." Thar'lts

Discussion is locked

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... government, which still hasn't fixed my stupidphone.
Aug 27, 2018 6:36PM PDT
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I suspect this is far more complicated
Aug 28, 2018 3:49AM PDT

than the writer knows. Loans of any kind require risk taking and, IMO, the idea that something should be at no cost to recipient is unrealistic. I hear there's a strong push to make a college education an entitlement for all. Yet, we also know there are jobs that go wanting for skills college cannot provide. Keep in mind that, in some respect, returning money to "harmed borrowers" may just harm the lenders. Keep in mind that those managing the lending system aren't working with their own money either. For something to be cleaned, something else must get dirty.

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"than the writer knows"
Aug 28, 2018 4:22AM PDT

Do you mean the writer of the vox article, or Seth Frotman, the departing civil servant?
The former should simply have been reporting statements given by the letter and the quoted officials. Which we just read in the article.
Mr Frotman, I think, is 'the one who knows', based on his brief CV.
If he doesn't 'know the risks' and other aspects of the program, then he should have been fired some time ago.
If he does know the aspects, but reported them erroneously in his letter, then we can be sure of two things: he's lying [not just mistaken], and his lies will be refuted at the opening of business today by his ex-bosses. Plus, he may owe us $750 million.

BTW, further investigation places vox somewhere to the left of Marx - Karl, not Gummo. No friend of Trump. So, anyone to the right of that can simply reject the article as fake news.
Myself, I'll read other sources as they check in.

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Both the writer and the civil servant have a job to do
Aug 28, 2018 4:57AM PDT

The writer must pique a reader's interest and the civil servant needs to make his numbers look good. Anything that gets in the way of someone's job can become enough of an annoyance that they want to grumble about it. Grumbling isn't evidence that someone has done improper harm or been improperly harmed. Maybe the reason these kids want to grumble about having to pay back expensive loans has something to do with their previous education. Maybe reading comprehension wasn't taught or learned and maybe they didn't fully understand that the money wasn't going to be free. Adults learn that when they misuse credit cards. Welcome to real life where tantrums should no longer prevail over reasoning.

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You misunderstand one key aspect of the
Aug 28, 2018 7:06AM PDT

program he oversaw.
There's more on it here and there, past couple of years.

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I'd say that, before passing judgement
Aug 28, 2018 7:44AM PDT

against anyone, we should ask if this was a well run and beneficial program as a whole. There certainly have been many programs that, with all of the best intentions, didn't produce the results that were expected or were too costly to continue to underwrite. I think we should be willing to listen to any reasons as to why changes were made before taking sides...if we need to take them at all.

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Well God (whom you prefer to call Jehovah)
Aug 28, 2018 1:17PM PDT

could fix your stupidphone. But, I suspect God won't do it because He knows what's good for you. Thus, you should get rid of it before it's too late. Wink

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Here, and many other places. Google seth frotman.
Aug 28, 2018 4:41AM PDT
https://www.npr.org/2018/08/27/642199524/student-loan-watchdog-quits-blames-trump-administration
NPR: to the left of MarxNotZeppo

https://www.bloomberg.com/news/articles/2018-08-27/apnewsbreak-nation-s-top-student-loan-official-resigns
Bloomberg, via AP: center [Virtually the same story from AP.]

And many others. Your mission, Jim, should you choose to accept it, is to compare the stories, looking for the differences when so many people tell the same lie ... if that's what it is. Bound to be some.

My view is, truth or lie, about the preponderance of enforcement rollback. Nobody "walks back" on my watch. Happy
I understand Frotman's unhappiness, but he's going too far with 'turning its back on students'. Seems more like just leaning heavily toward the business side, which we should expect from a conservative Republican from the world of big business. Of course the results may be the same.
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I went through several smartphone pages of links.
Aug 28, 2018 4:48AM PDT

One from the Washington Times, somewhere to the right of Sum Myung Moon.
BUT, nothing yet from Fox. Until they check in we can't claim to have balanced reportage, can we?

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(NT) Sun.
Aug 28, 2018 4:49AM PDT