Page 112 - Middleman News Today

Nothing to do with henry paulson, the treasury secretary who was also an executive at goldman sachs. totally different paulson. >> no, totally different. theyre not related. in fact, this paulson is criticizing the other paulson in the past for the treasury. completely different people. goldman sachs literally the middleman here. they have a big client, paulson, who says i need to have an investment vehicle i can sell short so i can make money because i think mortgages are going to go south, let...

The student loan industry because of the greedy middleman. the banks had the gal to take $68 billion in profits for services renders. so, why wouldnt he be appalled at the windfall profits of $104 billion of federal employees? you know what i like to do? tie their salary to your salary. if your salary goes up, in the private sector, their salary goes up. tied to the average salary of the american. why would that be a bad idea? this brings me to education. the other thing jammed in the bill that ...

Barack obama also took over the student loan industry because of the greedy middleman. the banks had the gal to take $68 billion in profits for services renders. so, why wouldnt he be appalled at the windfall profits of $104 billion of federal employees? you know what i like to do? tie their salary to your salary. if your salary goes up, in the private sector, their salary goes up. tied to the average salary of the american. why would that be a bad idea? this brings me to education. the other th...

The families and 26 million was used by the government operate the program. actually, mere 19.6 million was used by the government. >> that was an accounting error. >> why not give the $40 million directly to people? >> interesting concept. >> it was a test, andy. >> cut out the middle man. >> what have you got against middle men? >> dont like them. they need to take a dive. >> ive never met a middle man. >> greg packer has met a middleman, i think. >> they get their suits at middlemens warehous...

Hasnt helped it has hurt. >> i think that is a more complex question than the way you reduced it. but lets go back to the question at hand. >> steve disagrees with you. >> there is two separate questions. one is how we subsidize the cost of education versus how we are delivering it right now. this was a boondoggle. it was corporal welfare. >> and totally inefficient. we gave guaranteed subsidies to the banks and the federal government assumed all the risk. we hat rent sinkers rigging the game to...

They are a middleman parasite, get rid of them. as for the government choosing what career you go into, personally we subsidize the veterans, i think that is okay. there are things we subsidize already. we in the so-called free market over the last 20 years had the top salaries going to wall street so the mathematicians and physicists and best economists went to wall street and created the derivatives market. how did that work out? >> victoria, lets stick on point for a second. what about removi...

Have to cut thousands of jobs because of this plan. columnist shane is with fbn, hes here to explain how many jobs are they talking about. >> reporter: 2500, jane. thats the other side of this. sallie mae as a company employs 8600 people, so cutting back on 2500 positions is a pretty good chunk of the business. now, in those remarks we were showing from the president, what he talked about was eliminating the middle man in the student lending process, government lends directly to the student, you...

Care reconciliation bill and doing away with a 45-year-old program that guaranteed federal subsidies to private banks to get them to lend money to students while the government assumed all of the risk. >> for almost two decades weve been trying to fix a sweetheart deal in federal law that essentially gave billions of dollars to banks to act as unnecessary middlemen in administering student loans. so those are billions of dollars that could have been spent helping more of our students attend and ...

Country. that one making government the primary lender to students. take a listen. >> by cutting out the middleman, well save american taxpayers $68 billion in the coming years. $68 billion. thats real money. [laughter] real savings that well reinvest to help improve the quality of higher education and make it more affordable. jane: the legislation delivers really a wide reach. about half of college students receive some sort of federal aid, and more than eight million are going to college with ...

We need to invest that money in our students. we need to invest in our community colleges. we need to invest in the future of this country. we need to meet the goal i set last year, and graduate more of our students than any other nation by the year 2020. through the extraordinary leadership of education secretary arnie duncan, thats what the reforms im signing today will help us do. [applause] >> >> by cutting out the middleman, well save american taxpayers $68 billion in the coming years. $68 ...