The great socialist, Thomas Jefferson, in an August 1786 letter to George Wythe wrote:

“I think by far the most important bill in our whole code is that for the diffusion of knowlege among the people. No other sure foundation can be devised for the preservation of freedom, and happiness. If any body thinks that kings, nobles, or priests are good conservators of the public happiness,2 send them here. It is the best school in the universe to cure them of that folly. They will see here with their own eyes that these descriptions of men are an abandoned confederacy against the happiness of the mass of people…Preach, my dear Sir, a crusade against ignorance; establish and improve the law for educating the common people. Let our countrymen know that the people alone can protect us against these evils, and that the tax which will be paid for this purpose is not more than the thousandth part of what will be paid to kings, priests and nobles who will rise up among us if we leave the people in ignorance…” 

Comrade Jefferson advocated FREE university for American students. I tell you that to tell you this.

David Hochberg, Vice President of Mortgage Lending at Perl Mortgage= no this is not an ad, but he was part of the team that did our loan refinance-made a really succinct point today. Hochberg, an avowed republican, knows mortgages. Setting aside his political blinders, I generally have faith in his overall real estate market analysis. Today was a case in point.

What he observed today was along the lines of what I have been thinking about for some time now. Hochberg observed that banks will lend $100 thousand Dollars to students, without a co-signer, without previous credit, sometimes still developing pubic hair for university education. The kicker is that they can never dispense of that debt, by law, throughout their whole life, despite that jobs are rarely available to pay back those loans, and regardless of what happens in life, including physical disability, insanity or old age. So thorough is the support of the government in protecting educational loans for banks that life giving and sustaining Social Security can be withheld until loans are paid in full. Where is the rightwing outrage, like that pretended about the IRS, over that?

There is a name for this. It is called Indentured Servitude, and is defined as the “condition of European immigrants moved to the American colonies who worked for landowners and were considered property.”

Contrast that with adults, with jobs and incomes, presumably, who are virtually raked over the coals over credit scores, assets, income, 401k values and down payments for even the simplest of mortgages.  What is the difference? Tolerance and the system are the answers. That is, homeowners would revolt if told they would be tied eternally, or at least to the grave, over a mortgage if not by choice. Imagine that a homeowner could never declare bankruptcy to walk away from a home in the case of a catastrophic health issue, a divorce or the loss of a job, and that the bank would hound them, employing the power of the state, to the grave.

The question is, did banks, sheltered and underwritten by the government they paid for, collude with the College and university heads to trap a generation for their own short term gain? Unlikely, you say? Conspiracy theory? Need I remind you that Bush, Obama and their Tea party and so-called establishment congresses all bailed out the banks and Wall Street after they fraudulently sold derivatives, created under Clinton, essentially bets on home mortgages, bubbled to a value many times the actual value of what they represented? That bubble collapsed at the end of the Bush administration, sort of like mafia guys scattering like cockroaches. At the opening Bush bailout in 2008 of $700 billion, every foreclosure victim could have had their mortgage paid off, with another $1500 to every other homeowner. The result would have been an immediate transfusion of cash and revenue to the economy. Imagine that. What we got…

What we got was more of the same, this time with a different audience; young, desperate and gullible people. Well, not really gullible, but swept into a corporatized job market that defines hiring, job success and career mobility based upon school credentials. Why? And why is college so much more expensive now, while the salaries of professors and adjunct professors has declined, or at least not kept pace with rising tuition rates? Why are so many bankers and corporate CEOs on university, college and education boards, helping them to cozy up to government even more? Why threaten social security retirement over a bank loan? And why, like other loans, can’t it be disposed of through bankruptcy if something catastrophic happens? Finally, why the silence from all those who vehemently oppose the IRS and government’s overreach into companies and private affairs?

Am I saying, right now, that I have direct evidence of a government-bank-university conspiracy? Not quite yet, but I am following the money and the evidence. What I can tell you is that if there was a conspiracy it would look exactly like this.



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