Thursday, July 4, 2013

Ball and Chain

Students protest the cost and debt burden for higher educations; sign reads "Unemployed Superhero - Master of Degrees - Shackled by Debt!"  Demonstrator also wears symbolic shackles and a ball reading "Student Loans."

Amy Goodman hosts a discussion on recent doubling of the student loan interest rates to 6.8 after Congress failed to reach an agreement on out-of-control student debt recently passing 1 trillion dollars.  Elizabeth Warren had tried to get a reduction to .75 and what the big banks get.  Where are our priorities?  Micah Hauptman with the Public Citizen's Congress Watch division, and Pamela Brown with Strike Debt talk about the need for overhauling what amounts to an unjust and disfunctional debtors system leaving so many college graduates virtually shackled to these huge loans that they are unable to pay back.

Three months ago, Paul Jay also talked with author and former Wall Street financial analyst Michael Hudson about the reasons for the current student debt crisis and possible solutions;  namely, getting the banks out of the education system.


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