House Democrats take on the student loan industry and the Bush DoE
Before the 2006 midterm elections, there was a lot of talk about how kicking the Republicans out of a Congressional majority wouldn't do anything to improve the situation in America - that there was really no difference between Democrats and Republicans. They're all one party anyway, right?
I'm pleased to report that House Democrats have taken the bit in their teeth and massed a bipartisan response to six years of student-loan lender exploitation of a loophole in federal loan subsidy laws
. The Bush Administration, after six years of looking the other way (perhaps towards Iraq?) and allowing this blatant lender fraud to continue, has finally been brought up sharp by the passage of new law which stops the payment of subsidies which, in many cases, equal more than twice the subsidized interest rate on student loans - a practice which has cost taxpayers several hundred million dollars.
Salon.com's article on the topic will do you good. Go and read it - and don't ever tell me again that there's no difference between Republicans and Democrats. Democrats do the right thing by their constituents, and it doesn't take a Congressional change of hands to force them to do it. Let's hope they can begin to bail this country out of the financial shipwreck that six years of one-party rule have steered us into.