Saturday, December 21, 2013

7 Rip-Offs Corporations and the Wealthy Don't Want You to Know About

By Paul Buchheit


[...]

2. Crash the Economy, Get Your Money Back. Die with a Student Loan, Stay in Debt.

The financial industry has manipulated [6] the bankruptcy laws to ensure that high-risk derivatives, which devastated the market in 2008, have FIRST CLAIM [7] over savings deposit insurance, pension funds, and everything else.

But the same banker-friendly "bankruptcy reform" has ensured that college graduates keep their student loans [8] till they die. And sometimes even after that [9], as the debt is assumed by their co-signing parents.
 

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