{"id":187227,"date":"2013-05-09T19:06:00","date_gmt":"2013-05-10T00:06:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/05\/09\/im-matthew-saroff-and-i-approve-of-this-grandstanding\/"},"modified":"2013-05-09T19:06:00","modified_gmt":"2013-05-10T00:06:00","slug":"im-matthew-saroff-and-i-approve-of-this-grandstanding","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/05\/09\/im-matthew-saroff-and-i-approve-of-this-grandstanding\/","title":{"rendered":"I’m Matthew Saroff, and I Approve of this Grandstanding"},"content":{"rendered":"

Elizabeth Warren has proposed a bill that would set student loan rates at the same percentage as what the Federal Reserve offers to the too big to fail banks<\/a>:<\/p>\n

Students taking out government loans to help pay for college should pay the same rock-bottom interest rate that the Federal Reserve charges big banks, Sen. Elizabeth Warren (D-Mass.) proposed Wednesday.<\/span>

<\/span>With the interest rate on federal student loans set to double to 6.8% this summer, Warren said it’s unfair that big banks can borrow money at 0.75% from the central bank’s discount window.<\/span>

<\/span>“In other words, the federal government\u2019s going to charge interest rates nine times higher than the rates they charge the biggest banks — the same banks that destroyed millions of jobs and nearly broke the economy,” Warren said in introducing her first stand-alone bill since taking office in January.<\/span>

<\/span>“That isn’t right,” she said.<\/span>

<\/span>\u2026\u2026\u2026<\/span>

<\/span>Warren acknowledged that the Fed’s policy, which also includes a near-0% federal funds rate, is designed to help boost the economy by providing cheap credit.<\/span>

<\/span>But, she said, “our students are just as important to the economic recovery as our banks.”<\/span>

<\/span>“Let’s face it: Banks get a great deal when they borrow money from the Fed,” she said. “In effect, the American taxpayer is investing in those banks. “<\/span>

<\/span>“We should make the same kind of investment in our young people who are trying to get an education,” Warren said.<\/span><\/p><\/blockquote>\n

This is cheap pandering.<\/p>\n

Even worse, it’s never gonna see the floor of the Senate.<\/p>\n

That being said, someone<\/b> needed to ask the question why the rest of us do not get the deal the banksters do.<\/p>\n","protected":false},"excerpt":{"rendered":"

Elizabeth Warren has proposed a bill that would set student loan rates at the same percentage as what the Federal Reserve offers to the too big to fail banks: Students taking out government loans to help pay for college should pay the same rock-bottom interest rate that the Federal Reserve charges big banks, Sen. Elizabeth …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[998,968,1020,978],"tags":[],"class_list":["post-187227","post","type-post","status-publish","format-standard","hentry","category-congress","category-education","category-legislation","category-politics"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/187227"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=187227"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/187227\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=187227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=187227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=187227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}