"Taxpayers and other lenders have little risk of losing money on the loans, unlike mortgages made during the real estate bubble. Congress has given the lenders, the government included, broad collection powers, far greater than those of mortgage or credit card lenders. The debt can’t be shed in bankruptcy. The credit risk falls on young people..."
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Whitney Tilson (3rd background)
"Let’s be honest: we need a lot more well-off, well-educated white folks with a personal stake in both charter schools and education reform in general if we’re going to take reform to the next level, both politically and operationally.Whitney Tilson, hedge fund manager and major funding angel for the school privatizing Democrats for Education Reform, thinks there’s not enough rich, educated white folks.( Preaprez) click photo to his blog.
Arne Duncan
U.S. Secretary of Education, click photo
So do you think the recent Fiscal cliff bill and debt limit can affect payday loans lending industry?
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