I thought I answered it?

Ed, noelekal had actually also responded to me. I had therefore moved on and responded to his response to me.

My firm produces the capital to build the infrastructure of the future, finance the entrepreneurial dreams of the Gates, Jobs and Mas of the world. I don't know what your bank finances.

Are you in compliance?

Question: which specific jobs are you thinking of when you say they dont "produce" anything?

hatred from our fellow man because we are all evil?

Just remember, the "Star Trek" vision ofthe future is future fiction...and future fiction RARELY comparts to future reality.

That would be a big NO raitch. I have not been in compliance since March of 2005.

That is very deep Sam

Congrats on getting out of a "non-producing" job i guess.

Are you sure that you were in compliance when you were in compliance.

maybe you should get back in, as ayour bank is paying a portion of a $3b fine (along with several others) about interest rate conversion and price manipulation.

I would argue that compliance does produce something - they are (or should be) involved in account agreements, providing disclosures, reviewing and implementing regulatory changes, and many other tasks. And they certainly have produced more than my fair share of headaches.

Regulators, government bureaucrats, agencies like the EPA, Education, IRS, those types of government in general....they produce nothing, they live off confiscating the wealth of others.

The bureaucracy must be decreased soon, or we will look like old Europe sooner than later. I want my children to be more prosperous than I was, same as our parents wanted for us.

Growing government is not the answer.

You are right Hap! There needs to be integrity in the system. The currency market trades about $5 trillion each day — 100 times more than the New York Stock exchange's $50 billion in daily trades. The profits are enormous, so a $3 billion fine is barely a rounding error. I would not want to be the compliance officer in the FX department. You have to track these guys to make sure they are not on a multitude of social media sites.

You're right SM, that many employers use this as an incentive for employment. But I think the real issue is more "give me" than anything. 1 in 4 expect to have the debt forgiven, I don't think 24% of college kids realize that there are job opportunities that will pay for your education in return for a 5, 7, 10, etc year commitment. In this instance I'd expect that forgiven means just that....forgiven.

But on the other hand. 24% expect the debt to be forgiven, someone still has to pay for it. Who? Taxpayers, govt, colleges......for the 76% left, how many are actually going to turn into credit-worthy individuals and repay the loan in full? So if we account for another 24% [I have not basis for this number] that will eventually become charged-off loans, that leaves only roughly half of the student loans being repaid. Who pays for that 24%? The creditors....you, me, pale, raitch,.....those of us in the banking sector.

So I can't envision that this is really a good thing.

I expect my loan debt to be forgiven when I submit my final payment. My wife will be the same. We're millennials. She got some grants when she started her education degree (which she is now repaying since she didn't go into education in the end), and there are many programs for teaching in higher risk areas that if you "serve time" there for X amount of years, your debt can be forgiven. I'm perfectly fine with that, and those districts would never attract the amount of quality teachers they need without programs like that.

Not to be totally cynical about my generation, but I would guess most that are expecting loan forgiveness are expecting it to be forgiven "just because", not because they did something to earn that. There's a lot broken with the system. It'd be great to see some of the programs that have come out in other countries in the recent past. Germany, for instance, or Finland, Sweden, or a host of others that are going a radically different direction from our constantly skyrocketing tuition costs, with constantly skyrocketing expectations from employers of the qualifications of an entry-level job.

You have to go to college (or a trade school, or similar path) if you want to get anywhere, then take a low paying job with high loan payments and just suffer through it for the first 10+ years. Suffering is good, especially for those that haven't yet had the benefit of learning the value of a dollar. If you have to turn down going to Starbucks every morning because you have debt to pay, you'll end up being a much more financially responsible adult.

Trying to steer this away from politics and back to the topic at hand, which is a relevant one to me. I'm super happy and thankful that I had an employer prepared to offer tuition assistance to allow me to continue in my education. I'm not sure how I'd have done it otherwise, but I'd definitely not have been able to afford the full loan payments on my teller income when I first started working here!

IRS obtainsp funds to provide roads and military. Regulators enforce rules we, as a society, have decided we want put into place. bureaucrats provide the support and infastructure for them. EPA enforces environmental rules society has decided they want and need to be enforced collectively.

Now, obviously there are huge issues with corruption and inefficiency and waste. And we should constanly be trying to improve the system and adapt to changing circumstances.

But this is how society works. Some things have to be done collectively and there will always be disagreements over how and what should be included in that.

Nor can I, burkemi.

While I don't disagree that we need less government intrusion, isn't the topic of this thread about higher education (and the slackers who don't think they should be responsible for repaying their debt)? It would appear getting an education is a key to productivity. But what do I know?

You can thank minimum wage and unionization for this.



You can thank welfare for this.




Funny how globalization has not improved the standard of living for everyone and yet it has caused one countries economic problems into all of our economic problems.




Automation always comes at a price. Once the price of labor becomes unattractive then automation is the only rational alternative. Yet we keep having people pushing for increasing minimum wage. All an increase in minimum wage does is prevents the lowest skilled workers in society from getting an opportunity to procure such skills.




Good teachers are a commodity. The problem with them is that they mostly all unionized. They cannot be fired no matter how ineffective they are, and they earn a wage not consistent with the demand for their position. Counties need to increase property taxes to pay for them, driving down home prices and driving up the supply of teachers. With an increase in the supply of teachers comes more and more ineffective teachers.




I have to ask you if you have ever taken an economics class before? Banks produce money. They don't print money but they produce it. How can that be? It is called Fraction Reserve Banking: http://en.wikipedia.org/wiki/Fractional-reserve_banking

Radical solution for higher education (and where i hope it ends up). Instead of subsidizing learning how we do now, take that money and fund the [censored] out of a free, online school. An actual on-line college, not university of phoenix. more like khan university. It's kind of crazy that with the advancements in technology that has make knowledge more easily available, tuitiion prices have gone through the roof.

Funny how there is a serious disconnect between what bureaucrats want and what the public wants. I don't remember voting for any regulator or anyone in the EPA.

it's not just you. like it or not a majority of voters voted for the guys who put these things in place.

But i do agree there are tons of places where things get inserted that people dont actually want. The system has holes, hopefully we fix them eventually.

With all due respect I have to disagree here....at least to the portion of "...fund the [censored] out of a free, online school." If you're going to fund it, then fund it to a free brick-and-mortar college system. Yes, technology has provided a fast and easy avenue for quick knowledge...but at what cost? People still NEED to interact with real people.

Have you ever taken an online class, burkemi?
There's discussion groups and group projects, etc., all of it done online via skpe or chats or phone calls.
A goodly portion of annual costs for college is allotted to living expenses. Those who live off campus have to buy bus tickets or gas for their cars, etc.
The cost for all that brick and mortar to house teachers and hold classes is pricing college out of reach for far too many.
Yet technology is removing large numbers of blue collar jobs.
Affordable education is, imo, the best solution.