|
Korean Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Teachers from Around the World!"
|
| View previous topic :: View next topic |
| Author |
Message |
pkang0202
Joined: 09 Mar 2007
|
 Posted: Sun Apr 19, 2009 8:01 pm Post subject: I'll support Obama on this |
 |
|
http://uk.reuters.com/article/gc06/idUKTRE53I2GJ20090419?pageNumber=1&virtualBrandChannel=0
| Quote: |
President Barack Obama plans to crack down on deceptive credit-card industry practices that have saddled U.S. consumers with huge debts and soaring interest rates, U.S. officials said on Sunday.
Top White House economic adviser Lawrence Summers said Obama would be "very focused in the very near term on a whole set of issues having to do with credit card abuses."
"We need to do things to stop the marketing of credit in ways that addict people to it," Summers said in an interview on the NBC television talk show "Meet the Press." |
Credit card companies are evil. |
|
| Back to top |
|
 |
bacasper
Joined: 26 Mar 2007
|
| Posted: Sun Apr 19, 2009 8:38 pm Post subject: |
|
|
Your memory is short.
In the Senate, BO voted AGAINST a bill which would have capped credit card interest rates at - get this - 30%!
Apparently even that usurious rate was not enough to satisfy the banking vultures who have taken over our entire political apparatus. It is hard to believe BO will effectively do anything not in their interest. |
|
| Back to top |
|
|
blade
Joined: 30 Jun 2007
|
| Posted: Sun Apr 19, 2009 9:03 pm Post subject: |
|
|
I like his plan to replace subsidized student loans from private institutions with direct government lending.
| Quote: |
April 13, 2009
Plan to Change Student Lending Sets Up a Fight
By DAVID M. HERSZENHORN
WASHINGTON � The private student lending industry and its allies in Congress are maneuvering to thwart a plan by President Obama to end a subsidized loan program and redirect billions of dollars in bank profits to scholarships for needy students.
The plan is the main money-saving component of Mr. Obama�s education agenda, which includes a sweeping overhaul of financial aid programs. The Congressional Budget Office says replacing subsidized loans made by private banks with direct government lending would save $94 billion over the next decade, money that Mr. Obama would use to expand Pell grants for the poorest students.
But the proposal has ignited one of the most fractious policy fights this year.
Because it would make spending on Pell grants mandatory, limiting Congressional control, powerful appropriators are balking at it. Republicans say the plan is proof that Mr. Obama is trying to vastly expand government. Democrats are divided, with lawmakers from districts where lenders are big employers already drawing battle lines.
At the same time, the private loan industry, which would have collapsed without a government rescue last year, has begun lobbying aggressively to save a program that has generated giant profits with very little risk.
�The administration has decided that it wants to capture the profits of federal student loans,� said Kevin Bruns, executive director of America�s Student Loan Providers, a trade group that is fighting Mr. Obama�s plan.
To press its case, the nation�s largest student lender, Sallie Mae, has hired two prominent lobbyists, Tony Podesta, whose brother, John, led the Obama transition, and Jamie S. Gorelick, a former deputy attorney general in the Clinton administration.
For lenders, the stakes are huge. Just last week, Sallie Mae reported that despite losing $213 million in 2008, it paid its chief executive more than $4.6 million in cash and stock and its vice chairman more than $13.2 million in cash and stock, including the use of a company plane. The company, which did not receive money under the $700 billion financial system bailout and is not subject to pay restrictions, also disbursed cash bonuses of up to $600,000 to other executives.
Sallie Mae said that executive compensation was lower in 2008 than 2007 and that the stock awards were worthless in the current market.
Critics of the subsidized loan system, called the Federal Family Education Loan Program, say private lenders have collected hefty fees for decades on loans that are risk-free because the government guarantees repayment up to 97 percent. With the government directly or indirectly financing virtually all federal student loans because of the financial crisis, the critics say there is no reason to continue a program that was intended to inject private capital into the education lending system.http://www.nytimes.com/2009/04/13/us/politics/13student.html?scp=3&sq=student%20loans%20obama&st=cse
|
|
|
| Back to top |
|
|
Tiger Beer
Joined: 07 Feb 2003
|
| Posted: Mon Apr 20, 2009 2:31 am Post subject: |
|
|
| bacasper wrote: |
| In the Senate, BO voted AGAINST a bill which would have capped credit card interest rates at - get this - 30%! |
Links, please.
...and no wacko fringe-group paranoid schizo links, please.
Just legit ones, if you read them, please. |
|
| Back to top |
|
|
bacasper
Joined: 26 Mar 2007
|
| Posted: Mon Apr 20, 2009 7:57 am Post subject: |
|
|
| Tiger Beer wrote: |
| bacasper wrote: |
| In the Senate, BO voted AGAINST a bill which would have capped credit card interest rates at - get this - 30%! |
Links, please.
...and no wacko fringe-group paranoid schizo links, please.
Just legit ones, if you read them, please. |
You can't get more mainstream than a Senate vote. Plus, this is old news, fer Chrissakes!
So you insult me, and I have to do your googling for you?
To show how pathetic you are, here:
U.S. Senate Roll Call Votes 109th Congress - 1st Session
as compiled through Senate LIS by the Senate Bill Clerk under the direction of the Secretary of the Senate
Vote Summary
Question: On the Amendment (Dayton Amdt. No. 31. )
Vote Number: 20 Vote Date: March 3, 2005, 02:05 PM
Required For Majority: 1/2 Vote Result: Amendment Rejected
Amendment Number: S.Amdt. 31 to S. 256
Statement of Purpose: To limit the amount of interest that can be charged on any extension of credit to 30 percent.
Vote Counts: YEAs 24
NAYs 74
Not Voting 2
Vote Summary By Senator Name By Vote Position By Home State
Alphabetical by Senator Name
Akaka (D-HI), Yea
Alexander (R-TN), Nay
Allard (R-CO), Nay
Allen (R-VA), Nay
Baucus (D-MT), Nay
Bayh (D-IN), Yea
Bennett (R-UT), Nay
Biden (D-DE), Nay
Bingaman (D-NM), Nay
Bond (R-MO), Nay
Boxer (D-CA), Yea
Brownback (R-KS), Nay
Bunning (R-KY), Nay
Burns (R-MT), Nay
Burr (R-NC), Nay
Byrd (D-WV), Yea
Cantwell (D-WA), Nay
Carper (D-DE), Nay
Chafee (R-RI), Nay
Chambliss (R-GA), Nay
Clinton (D-NY), Yea
Coburn (R-OK), Nay
Cochran (R-MS), Nay
Coleman (R-MN), Nay
Collins (R-ME), Nay
Conrad (D-ND), Yea
Cornyn (R-TX), Nay
Corzine (D-NJ), Yea
Craig (R-ID), Nay
Crapo (R-ID), Nay
Dayton (D-MN), Yea
DeMint (R-SC), Nay
DeWine (R-OH), Nay
Dodd (D-CT), Yea
Dole (R-NC), Nay
Domenici (R-NM), Nay
Dorgan (D-ND), Yea
Durbin (D-IL), Nay
Ensign (R-NV), Nay
Enzi (R-WY), Nay
Feingold (D-WI), Not Voting
Feinstein (D-CA), Yea
Frist (R-TN), Nay
Graham (R-SC), Nay
Grassley (R-IA), Nay
Gregg (R-NH), Nay
Hagel (R-NE), Nay
Harkin (D-IA), Yea
Hatch (R-UT), Nay
Hutchison (R-TX), Nay
Inhofe (R-OK), Nay
Inouye (D-HI), Not Voting
Isakson (R-GA), Nay
Jeffords (I-VT), Yea
Johnson (D-SD), Nay
Kennedy (D-MA), Yea
Kerry (D-MA), Nay
Kohl (D-WI), Nay
Kyl (R-AZ), Nay
Landrieu (D-LA), Nay
Lautenberg (D-NJ), Yea
Leahy (D-VT), Nay
Levin (D-MI), Yea
Lieberman (D-CT), Yea
Lincoln (D-AR), Nay
Lott (R-MS), Nay
Lugar (R-IN), Nay
Martinez (R-FL), Nay
McCain (R-AZ), Nay
McConnell (R-KY), Nay
Mikulski (D-MD), Yea
Murkowski (R-AK), Nay
Murray (D-WA), Yea
Nelson (D-FL), Nay
Nelson (D-NE), Nay
Obama (D-IL), Nay
Pryor (D-AR), Yea
Reed (D-RI), Nay
Reid (D-NV), Nay
Roberts (R-KS), Nay
Rockefeller (D-WV), Yea
Salazar (D-CO), Yea
Santorum (R-PA), Nay
Sarbanes (D-MD), Nay
Schumer (D-NY), Yea
Sessions (R-AL), Nay
Shelby (R-AL), Nay
Smith (R-OR), Nay
Snowe (R-ME), Nay
Specter (R-PA), Nay
Stabenow (D-MI), Yea
Stevens (R-AK), Nay
Sununu (R-NH), Nay
Talent (R-MO), Nay
Thomas (R-WY), Nay
Thune (R-SD), Nay
Vitter (R-LA), Nay
Voinovich (R-OH), Nay
Warner (R-VA), Nay
Wyden (D-OR), Nay
Learn your damn lesson now. I'm a scientist. I go by the best evidence before me. And I can document everything I post. |
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
