Friday, May 4, 2012

Lawrence Meyers at says, "profit from" the misery created by the student lending crisis

So, Lawrence Meyers over at wants everyone to know that we shouldn't be angry about the student lending crisis. In his piece, "How to Profit From the Student Loan Bubble," he spews out a bunch of advice to help all of you greedy investors make some bucks from this wonderful form of debt bondage!

This dairy cow wrote an article for InvestorPlace too. He doesn't entirely agree with Meyers.

Meyers makes it clear. Don't be angry. Nope.  Instead, you should profit from the fiasco. Oh, and he places the blame on "fiscally irresponsible" states. Yeah, uh, that's a really nuanced understanding of the crisis, dude. Way to go with that neoliberal-mumbo-jumbo. The states and the local governments are to blame. It has nothin' to do with how higher education has been privatized and led to the creation of a fake, greedy, usurious industry. Nope. You got it right, Meyers. 

"Man, like, I'm not sure that what you're sayin' is, like, totally true . . ."

On a side note, I'd like to ask Meyers, so what if 36 million people - that's how many people have outstanding federal loans - took your sagely advice, and invested in the companies you suggest. How would that turn out? I'm curious.

We know that these folks, however, can't invest in the balloon, because they are barely making ends meet. But this great guy wants you to invest in the bubble that is destroying millions of lives in your own country, and eroding higher education. That's how you're a real patriot! You invest in stuff that hurts other people! Great work, Meyers. Classy advice.
Hmmm . . . maybe she's onto something . . . (Photo Credit: AP/Peter Dejong)

He closes with this great remark: "Keep your eye on the situation — more profits can be made from this kind of uncertainty." Ah, yes, spoken like a true capitalist. Just turn a profit, and don't ever, ever consider issues surrounding morality or ethics. That's just silliness!

"I just made a huge profit on student loan debtors' debt! Thanks, Larry!"
So, yeah, the crazy conclusion is this: it's great to be greedy. Who gives a sh*t if it's at the expense of others? I mean, if you can make a profit, then you are good to go. Then you can by that big-a$$ RV that guzzles gas and drive it all over the U.S. While you're out on the road, you'll probably see more homeless people like I did when driving across country again. There are more of them. Also, you'll see more abandoned homes and abandoned animals. But, hey, you made a profit and you deserve that trip across America Miseryland.

Also, don't think about generations to come who will join the ranks of the indentured educated class. Nope. Just make that profit. Look out for yourself, and to hell with the rest of us!


Nando said...

Cryn, this "man" is a disgraceful pig. At least some businessmen and women have an ethical compass. One friend told me that she could have invested in student debt a few years ago (SLABS). However, she could not bring herself to do so.

Anonymous said...

To be fair, he's saying to short SLM because the debt cannot be paid back... It's really to profit at Sallie Mae's expense.

Anonymous said...

I didn't even know such investments were possible.

Anonymous said...

This is absolutely vile. Signs of a collapsing civilization.

Industrial Hygenist said...

What's vile is that Cryn is a coward. She won't post my rebuttal. Typical Liberal. They'll criticize and yell and scream nasty things at people, but when they get pushback, they censor the free speech.

You disgust me. I'm going to embarrass the hell out of you on Breitbart.

Anonymous said...

So aside from the emotionally charged rhetoric and witty, captioned pics, what constructive information does this article provide? From my perspective (Yes, I'm a student) this is, for lack of a better term, whining.

DJ said...

Anonymous @5:30 is correct. Unlike various legitimate economic activities, finance is a zero-sum game. This guy is saying to short Sallie Mae. Any profits made under this strategy are coming from Sallie Mae's pockets.

I think there's a big difference between taking money from Sallie Mae and taking money from poor students, even if Sallie Mae's money originally came from the poor students.

Industrial Hygenist said...

You were warned. Cowards get what they deserve: exposure and ridicule.

Anonymous said...

Does anyone else see the irony here? A blog titled "All Education Matters" is taking an article on financial education (advice) and tearing it apart. There's nothing wrong with converting opportunity into profit -- the government does it every day.

And yes, believe it or not, the student debt crisis is directly related to government involvement and regulation of the educational system. The same way that government involvement in the housing market spawned the housing bubble and following collapse. Wait, it wasn't those darn 1%ers?

Turn off CNN for a minute, put down the NY Times, put Obama's next speech on mute and take the time to understand the financial markets and government involvement therein if you really care about solving the student loan crisis.

Anonymous said...

What a fat cow...nice makeup look like a clown. Go eat another sundae