The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label sallie mae. Show all posts
Showing posts with label sallie mae. Show all posts

Friday, July 31, 2015

Social Security: We’re from the government, and we’re here to destroy what remains of the program

One of the funniest and perhaps saddest commentaries regarding the ability of the Federal government to either fix or run a financial enterprise is that when Uncle Sam co-opts a business platform, the end result is almost always insolvency, or the need for taxpayer bailouts.  In fact, all one has to do is look at the government’s takeover of mortgage and student loan lenders Fannie Mae and Sallie Mae to see that elected officials and their bureaucracies are so incompetent when it comes to finance and running a business, they quite often spend more money keeping these entities afloat than the value of the business was worth.
So when the American people desperately need their government to solve a problem tied to the future of Social Security, Congress’s new planned solution and predictable outcome should come as no surprise.
In a new piece of legislation called the ‘One Social Security Act’ (HR 3150), Congress is seeking to merge two separate entities under the Social Security Administration into one, thus masking the insolvency of both programs and making your retirement insurance now fully integrated with those receiving benefits as a disabled American.
Read more on this article here...

Monday, April 29, 2013

Growing student loan defaults forces Sallie Mae to retract selling bonds

On April 29, Sallie Mae, the nation's largest student loan organization, was forced to pull back a bond offering of $225 million as investors refused interest in the lender due to the growing number of defaults taking place across the country.



Student-loan company Sallie Mae SLM -1.35% canceled a $225 million bond offering on Thursday after about two weeks on the market, according to people familiar with the deal. The move may mark a line in the sand: Investors whose thirst for yield has revived all manner of riskier asset classes decided they weren't getting paid enough to buy at the offered price amid rising student-loan defaults.

In the case of the canceled Sallie Mae offering, rising defaults could have crimped the cash flow of the federally backed loans supporting the new securities, because more defaults would mean less excess, or residual, income after holders of the original loans were paid. - Wall Street Journal

Even as central banks in Europe and the U.S. are willing to buy toxic assets like mortgage backed securities, which carry a risk threashold well above that of student loans, it appears the rubicon has been crossed by investors who no longer want to be fooled by the bubbles free money printing and quantitative easing provide, in an economy that is declining.