I wonder if defenders of the student loan sharking industry, like Senator Ben Nelson of Nebraska or Representative Virginia Foxx of North Carolina, give a damned about default rates. Probably not. (Nelson is in bed with Nelnet, and Foxx is a huge supporter of the banks and deregulation. And as we're all aware, deregulation has done wonders for the health of the U.S. economy. I think Foxx might be onto something).