> The government guarantees these loans so there is >little risk to a bank they gives them.
>> Bret, > >> In the history of humanity, no bank has ever made a >> living by lending money to people who cannot pay it >> back. You have to ask yourself the question: What's >> different this time?
Thank you, Dan, that is precisely my point to Bret. I think Bret, and the rest of us, should be more sympathetic to the large and growing number of people who are going to be seriously hurt as the Education Bubble bursts.
The Education Bubble is not about ignorance, greed, or moral turpitude. It is about bad public policy.