House Votes on Student Loans and ACORN
[Guest post by DRJ]
Via Hot Air, the House has voted to defund ACORN:
The fallout continues from the undercover videos taken at ACORN offices across the country. The House has followed the lead of the Senate in voting to cut off funds to ACORN, this time in the Student Loans Bill. The final vote was a solidly bipartisan 345-75.”
Big Government has the full text. The Instapundit wonders if President Obama will sign a bill defunding ACORN.
The Hot Air link also explains changes in the law that will effectively nationalize student loans.
— DRJ
[…] by a margin of 342-75 to defund ACORN from the Student Aid and Fiscal Responsibility Act of 2009. Of the 75 who voted “NAY” votes on this bill include Charlie Rangel, Sheila Jackson-Lee, Maxine Waters, Henry Waxman, Chaka Fattah, etc. The 75 […]
House votes to defund ACORN – 75 vote against it, including Charlie Rangel, Jackson-Lee, Maxine Waters, Henry Waxman | Fire Andrea Mitchell! (20d20a) — 9/17/2009 @ 1:28 pmCap’n Ed says the bill they passed socializes the whole student loan industry.
happyfeet (71f55e) — 9/17/2009 @ 1:30 pmoh. I swear I didn’t see you had put that there.
I will go make coffee.
happyfeet (71f55e) — 9/17/2009 @ 1:31 pmoh please…. i *so* want Ear Leader to veto this…. i can’t wait to hear his explanation.
on second thought, i can’t stand to hear him speak, no matter what the subject. somebody listen for me and print a transcript, please?
redc1c4 (fb8750) — 9/17/2009 @ 1:40 pmThe bank industry is claiming that this bill could cost the banking industry 35,000 jobs.
Christian (22837a) — 9/17/2009 @ 1:50 pmChristian – They do not care.
JD (9019c8) — 9/17/2009 @ 1:51 pmThere have been some weird things going on in student loans the past few years. The banks have not done a good enough job to keep the hustlers out of that business.
The left is panicked that the Blue Dogs will sell them out on health care . This could get very interesting.
Mike K (2cf494) — 9/17/2009 @ 1:56 pmMike K — my wife’s student loans have a repayment interest rate of just over 1%. These were the federal loans, not the private. The private loans, unaffected by this bill, are where the hustlers are.
JD — they don’t care because they can place former ACORN employees in the Dept of Ed, say 35,000 of them, and claim there was no loss of employment.
Christian (22837a) — 9/17/2009 @ 1:58 pmAs Glenn Reynolds points out, the Senate defunded on a different bill so there is no guarantee that ACORN will lose one dime of Federal money.
Kevin Murphy (805c5b) — 9/17/2009 @ 2:00 pmYeh–maybe ACORN will lose its funds; but Madame Clueless Twit claimed just this morning that she hadn’t heard about the Senate action on ACORN–and later in the same day a bill blows through the House 345-75. Sounds like the San Francisco Treat really stays on top of things–doesn’t she?
She’ll wake up from her botoxed induced mental slumber and find a way to re fund ACORN.
Mike Myers (d62fe4) — 9/17/2009 @ 2:07 pmI did not realize that the Senate and the House defunded ACORN on differing bills. Convenient for them to be able to say that they defunded ACORN, while not actually doing so.
JD (9019c8) — 9/17/2009 @ 2:31 pmAnother bait and switch. But too many people are paying attention this time, they won’t get away with it.
tim maguire (4a98f0) — 9/17/2009 @ 2:34 pmJim Abrams at AP described ACORN as a “scandal-tainted community organizing group”.
Bradley J. Fikes, C. O.R. (a18ddc) — 9/17/2009 @ 2:42 pmJim Abrams is a sh*t-stained Leftist propogandist.
JD (9019c8) — 9/17/2009 @ 2:45 pmJD,
Bradley J. Fikes, C. O.R. (a18ddc) — 9/17/2009 @ 2:49 pmThen Abrams’ description of APORN is even more impressive. It’s hard to get rid of that label once it’s been bestowed by the MSM.
Calling ACORN scandal-tainted is an understatement on the order of calling the Cubs perpetually pathetic. It simply does not do justice to the depravity involved.
JD (9019c8) — 9/17/2009 @ 3:01 pmAgreed, JD. But any amount of progress is worth noting.
Bradley J. Fikes, C. O.R. (a18ddc) — 9/17/2009 @ 3:05 pmFolks.
Think about it.
The Dems moved with lightning speed to have these votes. There can’t have been more than a dozen like this in my life. The question is, “Why?”
The Dem leadership fully recognizes the peril they are now in. The $800K BHO campaign illegally gave them is the tip of the proverbial iceberg. Now that this whole thing has metastacized in the mainstream media, they have got to try to get in front of it. While I fully honor the cynicism expressed in here so far as to a true reconciliation with the force of law, this is one time they will make damn sure they follow through. The GOP is all over this and they will scream like stuck pigs if they can show ACORN is still being funded by USG cash.
Ed from SFV (13aa38) — 9/17/2009 @ 3:07 pmTrue, Brother Bradley. I am not as generous as you though. I do not think they deserve credit for getting barely even the basics right.
JD (9019c8) — 9/17/2009 @ 3:16 pmJD,
The resentful, begrudging nature of the coverage in some outlets is hilarious to behold.
The ACORN story involves an apparent pattern of petty misbehavior elsewhere, which makes it of scant interest to a local newspaper in Austin. To the extent it’s a story at all, it’s political in nature, with little import in the wider world beyond the spin applied to it; and we, along with every news organization I can see except Fox News, see no connection between videos purporting to catch ACORN employees in foolish behavior and President Barack Obama.
Bradley J. Fikes, C. O.R. (a18ddc) — 9/17/2009 @ 3:30 pmPetty misbehavior?! To the extent that it is a story at all?! Brother Bradley – I do not know how you stomach these little vile f*cks.
JD (9019c8) — 9/17/2009 @ 3:46 pmJD,
Thankfully, that particular deluded journo works thousands of miles away from me. And our particular outfit is mercifully less prone to those types. We’re a local newspaper, and the really unprofessional and biased types mostly infest the national press and larger papers, such as our beloved Los Angeles Times. (I wish that Limbaugh, Beck and the others would point out sometimes that not all journalists are cheerleaders for Ear Leader.)
Also, I love my job, writing about business and technology, and it’s wonderful being a dissenting voice from the prevailing orthodoxy. I’m a reminder to liberal journos that their viewpoint isn’t the only one.
Brother Bradley J. Fikes, C.O.R. (415676) — 9/17/2009 @ 3:58 pmOur paper has had some calls from readers scolding us from not covering the APORN story more aggressively. The trouble is, we are an almost exclusively local paper. We rely on the wire services for national and state news. When they fall down on the job we get blamed.
Why, oh, why, can’t we have better wire services?
Brother Bradley J. Fikes, C.O.R. (415676) — 9/17/2009 @ 4:04 pmBrother Bradley – you do have a much better wire service – it’s called the Internet …
Alasdair (d982db) — 9/17/2009 @ 4:25 pmAlasdair,
You are so right, but my impression is that most of the readers who complain tend to rely on print. They also don’t differentiate between the stories our reporters write and the wire services.
There is some logic to that, because we choose the wire stories. Of course, if we had better wire stories to choose from . . .
Brother Bradley J. Fikes, C.O.R. (415676) — 9/17/2009 @ 4:32 pmSo in order to rein in ACORN (if that is actually what is happening), our crooks in office demanded the nationalization of the student loan business.
Because, you know, it would be impossible to go after predatory hustlers.
Apogee (e2dc9b) — 9/17/2009 @ 5:56 pmI love sparring with lefties who claim they’re non-ideological, and even have some conservative views, but mock “teabaggers”.
Brother Bradley J. Fikes, C.O.R. (0ea407) — 9/17/2009 @ 8:07 pmMy, my, Bradley. Not my cup of tea but I think he would get along famously with Joe Klein.
DRJ (a51a0e) — 9/17/2009 @ 8:35 pm#27 Brother Bradley J. Fikes, C.O.R.:
Well, I would too, but since I don’t read…
EW1(SG) (55b47f) — 9/17/2009 @ 9:08 pmYou mean the loans that were already guaranteed by the Federal government and in many cases administered by them? Wow, that is some takeover.
When I worked for a student loan company, I was amazed at the profits these “free enterprisers” were making by doing a job the government does more fairly and cheaper.
Still the I know I wept when I heard the President of Sallie Mae might not be able to build his private golf course, because his taxpayer funded leeching company/veritable treasure trove of Ayn Randian gold was rightfully being kicked to the curb: After all, he made nothing, he provided a service whose losses were guaranteed to be covered by the Government, and he was able to profit richly. Private profit, social losses! Republican governance at its finest. It wass prefect crony capitalism.
I just wonder how much my poor Nelnet bosses must be crying today, as the government protects people from inefficiency and conservatives call it a take-over. Good thing, Mike inherited that bank!
What about other “take-overs”? Any word on when the Feds will take over the operation of the Coast Guard or Social Security? How dare they!
timb (8f04c0) — 9/17/2009 @ 9:09 pmKlein makes it so simple that even us lowbrow, unedumacated, elderly white hicks can understand. It’s “winguts (sic) v. Obama.”
Brother Bradley J. Fikes, C.O.R. (0ea407) — 9/17/2009 @ 9:12 pmtimmah said:
Still the I know I wept when I heard the President of Sallie Mae might not be able to build his private golf course, because his taxpayer funded leeching company/veritable treasure trove of Ayn Randian gold was rightfully being kicked to the curb: After all, he made nothing, he provided a service whose losses were guaranteed to be covered by the Government, and he was able to profit richly. Private profit, social losses! Republican governance at its finest. It wass prefect crony capitalism.
Well, that certainly makes sense. I’ve been convinced.
Ag80 (592691) — 9/17/2009 @ 9:14 pmtimb,
You believe government does things more fairly and cheaply? You mean like this or this or this? Or how about this?
DRJ (a51a0e) — 9/17/2009 @ 9:24 pmTimb, to rectify your complete ignorance, the Coast Guard is a legitimate and CONSTITUTIONAL function of the Federal Government.
As Red Foreman would say, “Dumb Ass!!””
PCD (02f8c1) — 9/18/2009 @ 10:23 amPCD, I read the Constitution a couple of times and can’t find the words coast guard anywhere in it. I did find bills in the USC authorizing both student loans and the Coast Guard, but I don’t expect many cons to know the difference between the Constitution and statutes.
Meanwhile, DRJm if you knew half as much as you thought Allahpundit did, then you would know every CBO study shows the Feds, since they don’t have to make a profit on student loans, costs less money to the student and the government to administer. But, hell, the fact you sound like Sean Hannity when you go off half-cocked shouldn’t stop you. It’s entertainment
timb (8f04c0) — 9/19/2009 @ 8:59 pmYeah, timb, you’re a moron if you think anyone is gonna buy your drivel.
Coast Guard — something that guards the coast
the coast — part of the outer perimeter of the nation
guard — protector, defender
outer perimeter of the nation — part of the nation and first line of defense
Coast Guard — part of a system designed for national defense
National defense — one of the few things the Constitution requires from the federal government
Not that you were actually serious in your moron-acity.
John Hitchcock (3fd153) — 9/19/2009 @ 9:07 pmSo one of the Patterico All Star Trolls writes the following to DRJ, who is always polite to posters (even rude posters):
So…let’s look at the history of who has posted like a braying jackass the most during the past six months.
timb, you need to go wash your mouth out with soap. Hannity is a thousand times more honest and polite than you are, and I am by no means complimenting Mr. Hannity. And DRJ? Do you really think that you are fairer minded and more well informed than DRJ? Really?
She just made you angry by pointing out your continuing alphabetist and wholly ignorant postings. Politely, unlike you.
What a tool you are. Literally.
Eric Blair (5290b4) — 9/19/2009 @ 9:28 pmOh, and when I read:
Ummm….. I won’t give you the reply you merit. I think you can imagine the response to that line you deserve.
Eric Blair (5290b4) — 9/19/2009 @ 9:30 pm“since they don’t have to make a profit on student loans, costs less money to the student and the government to administer”
timb – I was not aware that was the stated reason of the difference in cost to the government between the FFELP and FDLP approaches. Are you sure that is not just your spin on the CBO conclusions?
daleyrocks (718861) — 9/19/2009 @ 10:08 pmtimb,
I’m not sure why you are so upset. Do you think it was incorrect when I said the change in the law effectively nationalizes student loans?
As for whether private or public student loans are better, I guess it depends on your viewpoint. If we’re going to have federal student loans (as opposed to a purely private market for student loans), then I agree the government will be a powerful competitor. It’s my understanding federal student loans are preferred because they typically offer a cap on interest and more options to deal with repayment problems.
However, federal student loans aren’t always better for consumers, at least not for defaulting consumers. Federal loans and lenders who make loans guaranteed by the federal government “can more easily take steps against borrowers — like garnishing wages and benefits — than they can with other kinds of unsecured consumer debts.” In addition, this WSJ article indicates private student loan default rates are about 1/3 of the federal rate. Given all this, why are you so anxious to eliminate the private market?
DRJ (a51a0e) — 9/19/2009 @ 10:08 pmtimb, you need to go wash your mouth out with soap.
When my daughter was a wee lass, I used RedHot brand hot sauce, just a couple drops did the trick, when she said things she shouldn’t ought ta. The side effect? To this day, she waters down her mild salsa before dunking her chips. 🙁
John Hitchcock (3fd153) — 9/19/2009 @ 10:10 pmDRJ, surely you are posing a rhetorical question to timb:
The answer is that he wants Daddy to do everything for him, and for he himself to be responsible for nothing. The problem is, he never accepts that while he likes it when Barack Obama is Daddy, he would have to also like it when a Republican is Daddy.
John, I am sad to say that your approach (and mine) to dealing with kids saying bad words would probably get us a visit from Child Protective Services these days.
Eric Blair (5290b4) — 9/19/2009 @ 10:17 pm“timb, you need to go wash your mouth out with soap.”
No, the new and approved punishment on this blog is “into the corner with you for celery soup.”
It makes intuitive sense that adding another link in the loan disbursement chain makes the process more expensive. The government, however, outsources many of the servicing and administrative costs of its direct lending program, but includes them in the supplental payments it makes lenders under its guarnteed loan program, making cost comparisons muddled and difficult according to the CBO, but not because private lenders have to make a profit (which would be factored in to the cost of outsourced services the government pays for in its direct loan program).
timb just hates capitalism and/or people who are more successful than him.
daleyrocks (718861) — 9/19/2009 @ 10:29 pmIf timb wasn’t such a moron, he would know that the originations of the Coast Guard are in the Lightkeeping Service created by the first Congress to regulate and enhance interstate and international maritime traffic;
AD - RtR/OS! (f96136) — 9/19/2009 @ 10:43 pmin the Revenue Service, ditto, created to enforce the Tariff Regulations that funded the early government of the United States;
and to combat smuggling, which deprived the government of revenues due through import duties;
which is why, throughout most of the Coast Guard’s life, it was – in times of peace – attached to the Treasury Department, only being attached to the Navy Department during times of conflict.
Dana invented that so she should get some kind of credit. Maybe a Dana Copyright?
DRJ (a51a0e) — 9/19/2009 @ 10:54 pmDRJ – Sorry, I thought the celery soup torture was your childhood punishment. My mistake.
daleyrocks (718861) — 9/19/2009 @ 11:11 pmIt was (once – I’m a quick learner), but Dana is the one who made it funny by sending commenters to the corner with it.
DRJ (a51a0e) — 9/19/2009 @ 11:16 pm