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Is Warren telling the truth?

Feb. 11, 2016 |

I am disappointed (but not surprised) that you as an editor of a weekly newspaper would write an Op Ed piece without checking the facts. You regularly rail against your conservative Facework friends for posting false mesem, yet you continue to recite liberal talking points that are equally outrageous.

Sen. Warren loves to bash the big Wall Street banks but if they used the type of accounting methods that she is using to prove a point, they would be charged with financial fraud. Do you or the senator really believe that you can offer low cost, unsecured loans to students between the ages of 18 to 25, with no regards to credit scores and make huge profits? If that is the case, every bank in the country would be clamoring for this business.

All of the links below verify what anyone with a bit of business acumen already knows, that the government is not making “profits” on student loans, rather they are subsidizing the losses. Either Sen.  Warren is deliberately lying or this supposed bankruptcy expert is not very bright. Her comments on the student loans profits have been widely refuted by both people on the left and the right.
It is funny how the senator does not relate her $350,000 salary at Harvard to the rising cost of college. It is funny how she talks about the millionaires and billionaires not paying their fair share but fails to mention that Harvard University does not pay any income taxes on the investment income earned by the university's  $37.6 billion endowment. Funny but not surprising.

I would hope you bring yourself up to speed on this issue and others (Postal Service Pretending) before you publish any future opinion pieces.

https://www.washingtonpost.com/news/wonk/wp/2013/05/20/no-the-federal-government-does-not-profit-off-student-loans/

http://finance.yahoo.com/blogs/the-exchange/truth-elizabeth-warren-student-loan-crusade-005441665.html

http://www.politifact.com/wisconsin/statements/2015/oct/01/elizabeth-warren/uncle-sam-track-make-66-billion-profit-6-years-stu/

Brendan O’ Shea
Longmeadow

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