Monday, February 28, 2011

The higher education bubble from a banker's perspective


Although since the debt is all federal, this is less of a financial transaction than indentured servitude because Federal debt cannot be abandoned or wiped clean in bankruptcy. Imagine that: the most 'progressive' institutions in our nations promoting indentured servitude on a mass scale for their own gain.

If I didn't know better, I'd call them fascists. Hattip; Instapundit.

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