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View Diary: Student Debt Strike? (13 comments)

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  •  Gaining collective leverage (3+ / 0-)

    I think thats the idea.  Its the banks and their felonious cousins, the collection agencies -- who would be hurt.  If every time we take an action against a bank, we in fact hurt our pensions and 401ks then we can never take any actions against banks.  I dont subscribe to "too big to fail" -- do you ?

    we are heroes and believers

    by say it on Tue Jun 10, 2014 at 03:56:55 PM PDT

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    •  the banks as servicers get extra fees for default. (3+ / 0-)

      The only people getting hurt by thr defaults are the lenders, which is to say pensions, 401ks, individual investors, etc.

    •  No. Its a great idea. Banks still have to (1+ / 0-)
      Recommended by:
      eviemarie

      collect the money to pay the bondholders.  Stage a debt-strike and the entire business model risks collapse like a house of cards.  It is the only leverage you have.  Wall Street will happily turn your entire generation into debt-slaves and tell you it is your own fault for taking out such silly loans.  A debt-strike may be your only way out.

      "Wrong, Do it again!" "If you don't learn to compete, you can't have any pudding. How can you have any pudding if you don't learn to compete?" "You! Yes, you occupying the bikesheds, stand still laddy!"

      by ban48 on Tue Jun 10, 2014 at 04:55:39 PM PDT

      [ Parent ]

      •  weird, meant to reply to the comment up-one from (0+ / 0-)

        yours.  I agree with 'say it'.

        "Wrong, Do it again!" "If you don't learn to compete, you can't have any pudding. How can you have any pudding if you don't learn to compete?" "You! Yes, you occupying the bikesheds, stand still laddy!"

        by ban48 on Tue Jun 10, 2014 at 04:57:06 PM PDT

        [ Parent ]

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