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[–] Thisismyvoatusername 0 points 2 points 2 points (+2|-0) ago
Which is fine as long as the government does not force banks to lend or even lead them to believe they will backstop the loans. This should not be allowed to be another mortgage crisis.
[–] pcdude [S] 0 points 1 point 1 point (+1|-0) ago
Seems past the point of no return at this point. That's a lot of debt that damns us if we do and damns us if we don't. If the government chases people down and strips them off assets (or wages) to pay it off, a significant part of the middle class collapses under the weight of debt. The economy grinds to a halt. If it is forgiven, it just puts off the problem. The education bubbles keeps inflating and the tax payers are drained of what could be beneficial otherwise. While there is no collapse this time, in this case, the next bubble will just be bigger.