HIGHER EDUCATION BUBBLE UPDATE: Florida’s Second Subprime Crisis: Student Loans. “Government meddling has again separated profit from risk. Universities get to keep the tuition profits while taxpayers are forced to shoulder the risk of students not paying back their loans. In the end, this bubble will be worse than the last. Unlike homeowners, students facing crippling debt cannot sell back their asset (their education) or declare bankruptcy. The simple fact of the matter should be obvious by now: Government created this mess, in both instances, by forcing the market to provide loans it would not have granted otherwise. This is the breeding ground for bubbles, and this one will burst just as they all do.”