Saturday, September 20, 2014

Republican senators choose banks over struggling students

Senator Elizabeth Warren (D-MA) introduced a bill that would have allowed students to refinance their educational loans, just as home owners refinance their mortgages to get a lower interest rate.

Some 40 million students from middle class and working class families could have benefited on their aggregate $1.2 trillion dollar debt

Mitch McConnell and senate Republicans sided with the big banks, however.   That is, they allowed the fat cats to keep getting higher-than-current-market interest rates (8% to 10%) by blocking the bill from coming to debate.

Why?    Do they want to discourage education in our future?   Are they so beholden to financial interests?   Or are they just continuing their "Just Say No" policy until after November?

Whatever the reason, it's another mark of shame for the Do Nothing Republican Congress, whose public opinion now polls at 7%.

What I don't get is why Republicans are set to retain control of the House and have a good shot at taking control of the Senate.   Why don't voters get it?

Ralph

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