If they aren't gainfully employed as a result of having their college degrees, then their college degrees are useless.

The law that authorized the government to take over the student loan business also forbids the borrowers from relief through the bankruptcy laws.

@FuzzyMarineVet there are no laws for personal bankruptcy in the PH.

@eschatologyguy That is something Filipinos need to vote to fix. No person out to be put in perpetual servitude because some corporation decided to raise the interest on his debt beyond what he could reasonably be expected to pay.

@FuzzyMarineVet We just change addresses

@FuzzyMarineVet The link above says that is a myth, I don't know myself.

@guru Ben Shapiro is a lawyer and he mentioned it in his comments. That mention was quoted by Tim Pool who used it as a reason to reform the entire student loan business. I tend to agree, the corruption is usury intended to create a class of semi-affluent slaves.

Ideally, big businesses should face the consequences of bad business practices. Bailouts also promote irresponsible behavior.

@eschatologyguy So, why don't they?

@TyKC The question should be, why does the government bail them out? Imagine yourself the POTUS, and the management of a "well connected" (Lehmann Bros apparently wasn't as well connected) but overextended bank came up to you for a bailout. You see all these influencial people in government, as if on cue, come out and lobby this well-connected bank's case, all with seemingly good reasons for doing so. It's overwhelming, and you think they see something you don't, so you acquiesce. Only much, much, much later do you realize that somebody had been pulling the strings on this people to overpower your better judgment with their "sound" advice. The Deep State is more widespread, more well-entrenched in the corridors of power and for far longer than any clueless (Trump was sadly clueless at first as well) politician has known.

Isn't one reason for such bailouts to help the shareholders and investors? Aren't there a lot of people out there that have pensions and 401Ks they depend on for their retirement? I know that I would be in pretty bad shape if certain companies took a nose dive. As a lower middle class guy, I have been investing for retirement in an IRA, as many have, and it is tied pretty closely to the stock market.

Anyway, just a thought. I would not necessarily have a problem with refusal to bailout corporations, though. I guess it would depend on the situation.

Oh, and by the way, I spent about 10 years in college and graduate school, and I paid for every penny of my education. I worked hard, got as good grades as I could in order to get as much scholarship money as I could, and I took out minimal student loans, which I paid back myself. I voluntarily took out the debt, and I obligated myself to pay it back, so that it exactly what I did. I have no problem with demanding that these young people today pay their own debts as well.

@KeithThroop Investments through Lehmann Brothers (and others) sprouted wings and flew away. My point is, protecting the small investors is the ruse. Protecting the interests of the big globalist bankers is the real reason for the bailouts.

@eschatologyguy Unless you're one of those small investors, I guess.

@KeithThroop I know at least one person who lost his life savings at Lehmann's, and another from a Wall Street investment firm who invested in Chinese shell companies which summarily folded up. So, yes.