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Politics : The Obama - Clinton Disaster
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To: longnshort who wrote (28411)3/30/2010 11:07:58 AM
From: DuckTapeSunroof  Read Replies (2) of 103300
 
The old program had the BANKS passing their loan losses off to the taxpayers (and keeping the profits on all the performing loans....)

"Private Profits and Socialized Losses" was the WORST of economic models... pure corporate welfare.

With the new model the C.B.O. projects that ending these wasteful subsidies will "free up nearly $68 billion for college affordability and deficit reduction over the next 11 years."
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