“For-profit higher education is today a booming industry, feeding on the student loans handed out to the desperate.” TodayStudentsIndustryHigherProfitDesperateFeedingLoanHigher EducationStudent Loan Book:No Future for You: Salvos from the Baffler Source: No Future for You: Salvos from the Baffler
“In the subprime mortgage industry, bankers handed out iffy loans like candy at a parade because such loans meant revenue and, hence, bonuses for executives in the here-and-now.” IndustryExecutivesCandyRevenueLoanHere And NowBankersMortgageParadesBonus Author:Thomas Frank
“The crash of 2008 was driven in no small part by unfair practices in the mortgage industry which led to many consumers being trapped in loans they didn't understand and couldn't afford.” PracticeIndustryBecomingDrivenConsumersTrappedCrashUnfairLoanMortgageSmall Parts Author:Al Franken
“In the course of waging that war, the people of Canada had shown that it was possible for them to maintain nearly a million men in uniform and at the same time expand all the facilities for production within Canada at an unprecedented speed, including building industries which had never existed in Canada before... and by and large the cost of production in Canada compared favourable with the cost of production anywhere else among the Allies... All of this was accomplished without any foreign investment, without and foreign loans... We were quite capable of self-development.” PeopleMenWarSelfCoursesMillionsBuildingDevelopmentIndustryCostCapableInvestmentIncludingProductionsSpeedAccomplishedCanadaAlliesUniformsSelf DevelopmentLoanFacilityUnprecedented Author:Tim Buck
“The problem of dealing with the financial industry is being addressed today. You can measure it with interest rates coming down. You can measure it with the quantity of loans, and that sort of thing. The problem is, that nobody wants to take the loans. Once the banks are willing to give it, that's only half the problem.” WantGivingProblemInterestHalfWillingIndustryRateFinancialQuantityLoanInterest Rate Author:Michael Bloomberg
“Oil now, as a result of the Saudi production, is priced so low that there are not going to be new fracking investments made. A lot of companies that have gone into fracking are heavily debt-leveraged, and are beginning to default on their loans. The next wave of defaults that banks are talking about is probably going to be in the fracking industry. When the costs of production are so much more than they can end up getting for the oil, they just stop producing and stop paying their loans.” MadeEndsNextResultsCompanyTalkingGoneIndustryCostLowsInvestmentWaveProductionsDebtOilLoanDefaultSaudisFracking Author:Michael Hudson
“There's one other element I just want to be sure to mention here: that is that there are 43 million young people who are locked into predatory student loan debt for whom there is no way out in the foreseeable future given the economy that we have: this predatory Wall Street driven financialized low-wage service industry economy.” PeopleWayWantYoungGivenMillionsEconomyStreetsStudentsWallIndustryElementsLowsDebtDrivenLockedLoanPredatoryStudent LoanService Industry Author:Jill Stein