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turbinetree

(24,695 posts)
15. Bailout.....................................
Tue Mar 29, 2016, 10:59 AM
Mar 2016

"Citibank moved to dismiss that claim, arguing that the loan was an "educational benefit"

"educational benefit" in the fact that the eligibility for the bar loan was dependent on the plaintiff being a law student'


I wonder if the bailout they got in 2008 and 2009 was a "educational benefit" , like to not do this again, right, because they are at it again.....................because at one point in there storied life, there bond rating was worthless, but when the public had there credit rating charges go up from 5%, to in some cases up to 27%, this firm along with the other criminal band went to the fed, our fed to bail them out , and then they with outright audacity and asked to get money from the fed window at .01% and turn around and charge the public 3% to 15 % for home mortgage loans and credit cards were 9% to 25%, while at the same time there little band and others was / were foreclosing on homeowners, and going after those that lost there jobs and forcing the bankruptcy laws to be change, was that a "educational benefit"

So in there corporate reasoning that she took the money out and they gave it to her being dependent that she became a "law student", so its a form of blackmail, like they used in 2008 and 2009, they blackmailed the public to pay them and bail them out, nice scam, no accountability.

Why don't we apply this same logic on this firm, that they be dependent to not use funds in derivatives for example and be a bank and not all of the above in the ponzi scheme they operate under like on Wall Street


Honk---------------------for a political revolution Bernie 2016

This ruling applies to a very narrow band of loans, unfortunately alcibiades_mystery Mar 2016 #1
I can't see where Citi has a leg to stand on here, frankly, but I agree this is a narrow part Recursion Mar 2016 #8
Citi has no leg to stand on alcibiades_mystery Mar 2016 #10
I wonder what it looks like on paper JustAnotherGen Mar 2016 #2
when considering applying to a graduate program hopemountain Mar 2016 #3
On that's so unfortunate. a la izquierda Mar 2016 #5
thank you, a la izquierda - hopemountain Mar 2016 #32
Blessing in disguise? I was all set for law school but was informed that Land of Enchantment Mar 2016 #28
my goal was a masters in conflict resolution, hopemountain Mar 2016 #31
So you are one of those rare souls who is literally Land of Enchantment Mar 2016 #33
thank you, land of enchantment hopemountain Apr 2016 #34
Sorry, but borrowing 300K skepticscott Mar 2016 #4
They sell these law school candidates on the $130,000 start and $40,000 bonuses at alcibiades_mystery Mar 2016 #11
Exactly skepticscott Mar 2016 #29
It's all about personal responsibility. Trust Buster Mar 2016 #6
Then corporations should have to exhibit the same personal responsibility groundloop Mar 2016 #7
I used to believe that. KansDem Mar 2016 #12
Nonsense. potone Mar 2016 #16
Furthermore, once upon a time it was possible to work your way through school groundloop Mar 2016 #17
Yes, and another thing has changed for the worse. potone Mar 2016 #18
That's adorable. LanternWaste Mar 2016 #24
Bar loans charge a higher interest rate precisely because they are not geek tragedy Mar 2016 #9
Right...they don't get to mitigate their risk BOTH with higher interest AND non-dischargability! alcibiades_mystery Mar 2016 #13
Oh but wouldn't they like to! (nt) Recursion Mar 2016 #14
it was a bullshit argument, and the courts shot it down nt geek tragedy Mar 2016 #19
Bailout..................................... turbinetree Mar 2016 #15
You can get a car loan for 4% interest, but a school loan costs 14% DebbieCDC Mar 2016 #20
I got a car loan for 0.9%... I'm thinking that maybe when planning 1monster Mar 2016 #22
Good idea, if you have the collateral. JustABozoOnThisBus Mar 2016 #25
I didn't say it would be easy. Student loans are too easy. Not because 1monster Mar 2016 #26
It's a load of crap! jzodda Mar 2016 #21
Exactly. Myrina Mar 2016 #23
Some advice..... llmart Mar 2016 #27
Next financial bubble to burst: student debt credit default swaps. Dont call me Shirley Mar 2016 #30
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