November 4, 2011

BUSINESS WEEK: Yes, There Will Be A Student Loan Bailout. I’m not so sure.

UPDATE: Reader Matthew Tanner writes:

Remember the Santelli rant (which sort of unofficially birthed the Tea Party)? Folks who were responsible in their home-buying, who paid their mortgages, essentially being forced to pay the mortgages of the less prudent?

Well by all means let’s double down by doing it again, this time with student loans. I’m paying for three kids in college, and for the two years prior I was paying for four. It’s been absolutely killer for my wife and me, but we’re working hard and scrimping so our kids aren’t saddled with debt when they graduate. If they “bail out” student loan debtors, I will have once again been suckered into playing by what I thought were the rules.

If they keep punishing prudence, and rewarding imprudence, maybe I will finally learn my lesson, that it is prudent to be foolish.

Yes, that’s the risk of the coming Middle-Class Anarchy.

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