A Local Plea: Help Protect Indiana Jobs!

http://www.protectindianajobs.com/ ^ | 31-October-2009 | Lou L

[Lou L]

Fellow Hoosiers:

I submit this post on behalf of a friend of my family, who works for Sallie Mae, here in Indianapolis. I am asking for your thoughtful consideration in this matter, and if you agree with what's presented in the proposal on the http://www.protectindianajobs.com website, to please sign the electronic petition.

The issue is this. There is legislation before the U.S. Senate right now, that would make all student loans government-run. If this legislation is signed into law, Sallie Mae would be severly affected, and undoubtedly hundreds of jobs would be taken from this state.

Let's stop this madness, and put the reins on our government.

Thank you for your time.

[Lou L]

Link can be found here:

www.ProtectIndianaJobs.com

[Lou L]

Are you talking about Sallie Mae, or are you thinking about Fannie Mae?

I honestly can't speak to the policies you're referring to, and as I said, I'm doing this for a friend. If you don't agree with their proposal, I won't try to convince you otherwise.

[Earthdweller]

Guess my ignorance is showing here....not sure which Mae is which. Fannie and Freddie are the quasi government agencies and Sallie is not? Please explain.

[Lou L]

Sorry, my first link was posted incorrectly:

www.ProtectIndianaJobs.com

[Lou L]

Sallie Mae is a private lending institution for student loans. Not the same beast as Fannie and Freddie, so I understand your concern.

[Earthdweller]

Ok..thanks, sorry. Geez...they need to change their name for starters. I've had five kids go through school and went myself and I didn't know they were different and not associated.

Any private lender is in serious trouble right now.

I'll try to help out...

[Earthdweller]

Last update 09/19/2009

IF YOU WOULD LIKE ON OR OFF THIS INDIANA PING LIST PLEASE SEND ME A FREEPMAIL.

[nascarnation]

Good explanation. Thanks

[nascarnation]

If the Baraqqis are succesfull in socializing these jobs, we need to recruit everyone who loses their job to participate in a statewide campaign to flush Democrats.
Evan Bayh and Baron Hill would be at the top of my list.

[Lou L]

Thanks, Earthdweller.

Just a side note, despite being headquartered here in Indianapolis, Sallie Mae does have service centers in other places across the country...Pennsylvania is another major state with a large presence. This legislation falls under "eduaction reform," so highly touted by Obama and the Democrats.

One thing my friend made clear to me is there will be little competition when the government takes over. Additionally, the government loans have few controls to manage defaults, including no provisions for default insurance. If and when a student defaults on a loan, the insurance will come from taxpayers' money.

[Elsie]

If the only way to SAVE INDIANA JOBS is to SUBSIDIZE them - then count me out!

[Lou L]

I don’t understand...Sallie Mae isn’t asking for a handout. They’re asking that the government doesn’t take over yet another private lending institution.

[Elsie]

Sallie Mae was originally created in 1972 as a government-sponsored entity (GSE). In 2004, the company terminated its GSE charter, ending its ties to the federal government.

I guess I missed the announcement in '04.

I find it hard to have sympathy for folks that make such a profit off of folks who basically are FORCED to pay exorbinate prices for 'schooling' that they are listed on the Stock Exchange were other people buy STOCK to make a profit; too!

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Bah!

MIDDLEMEN!!!

They've run up the cost of EVERYTHING!