' there’s no way students are going to pay it back'

[marmar]

(Bloomberg) Bill Ackman says the biggest risk in the credit market is student loans.

“If you think about the trillion dollars of student loans we have outstanding, there’s no way students are going to pay it back,” Ackman, who runs $20 billion Pershing Square Capital Management, said today at 13D Monitor’s Active-Passive Investor Summit in New York.

The balance of student loans outstanding in the U.S. -- also including private loans without government guarantees -- swelled to $1.3 trillion as of the second quarter 2014, based on data released by the Federal Reserve in October. The rising level has prompted investors and government officials to draw parallels to the subprime mortgage market before housing collapsed starting in 2006.
About $100 billion of federal student loans are in default, 9 percent of outstanding balances, according to a Treasury Borrowing Advisory Committee update on student lending trends released in November.

Ackman, 48, said “young people are the kind of people that protest” and predicted that one administration or another will forgive student debt. ...............(more)

http://www.bloomberg.com/news/articles/2015-04-13/ackman-says-student-loans-biggest-risk-in-credit-market

[GeorgeGist]

1. Sounds like a wanker with a hipster complex.

Ackman, who runs $20 billion Pershing Square Capital Management, said today at 13D Monitor’s Active-Passive Investor Summit in New York.

[butterfly77]

2. Kicked&Recommended...