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View Diary: The One Comic That Explains Just How Screwed America Is (172 comments)

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  •  an aspect of student loans not often remembered (0+ / 0-)

    Over the years, investment banks have been buying up student loans, securitizing them into bundes, selling them as investments, and then selling credit default swap insurance policies on them -- exactly as they did with mortgages.

    And when the student loan debt bomb explodes and everyone starts defaulting, the end result will be the same.

    The banks haven't learned a thing.

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