Skip to comments.Student Loan Add-On Includes Special Deal for North Dakota (Kent Conrad payoff?)
Posted on 03/18/2010 12:49:49 PM PDT by OldDeckHand
They're already calling it the Bismarck Bribe:
The legislation contains provisions apparently designed to ensure votes from wavering Democrats. As outlined in the House version, the compromise plan would give nonprofit loan providers in several states the right to participate, along with for-profit loan companies selected through a competitive process, in helping the Education Department distribute loan money to students.
A new element, included in the plan issued on Thursday, would give a specific right to the Bank of North Dakota to issue federally subsidized student loans, meaning that it would be the only lender remaining outside of the Education Department's direct-lending system.
The Bank of North Dakota is a state-owned lender that Democratic aides described as representing the type of nonprofit entity they want to encourage. Critics of the loan bill suggested the provision was designed to win the support of a key Democrat, Sen. Kent Conrad of North Dakota, chairman of the Senate Budget Committee.
This whole bill is turning into one big bribe after another. Any excuse to take over more and bloat this already bloated, obscene bill.
Okay, Sen Coburn. First victim for your “expose, hold and filibuster” tactic.
Nothing but gangsters. Hang em all!
Can States rights overrule this bill?
The only thing the people of ND vote for is how much money they get.
I know most other states are like that but in my years up there I don't think I ever saw more people who would nearly sell their souls for Government hand outs that they think are rightfully theirs (for some reason).
Yes, many states will reject this bill.
Also, Hospitals in Ohio and Penn got special deals.
Alexis de Tocqueville
That is the ever-present question surrounding the 10th Amendment. But, don't hold your breath waiting for a Court to invoke the 10th.
Still, there will be plenty of states who will sue, on this principle, and plenty of others.
Well thank God for that. I feel like we are at the mercy of our elected officials. It should not be this way, this is America, not a communist country.
Let me guess - North West Ohio, like Toledo? That's Marcy Kaptur's district and she was putting out statements as late as last night indicating that she might be voting "nea", over the abortion language.
Exactly. He also predicted that the “unlucky” would elect those who promise to take from the “lucky” for their benefit.
If this isn’t the epitome.
If it passes, we can hope and pray it’ll be held up in courts for years. Can they still tax us on it though?
We'll see if he asks that this provision be removed.
These gosh damn bribes are boarding on criminal, if not criminal period.
Cong Shadegg was saying “physician owned hospitals” in Ohio and Penn were given special deals.
He said it was in the new legislation just posted at around 2pm.
I think that this "personal mandate" provision is the most likely to be struck, and it's so plainly unconstitutional that an injunction is likely to be granted, pending a Court hearing on the matter, IMHO.
As for the other excise tax provisions, I'm not educated enough on that particular area of the law to predict with any confidence.
It looks like they plan on robbing Peter (student loan program) to pay Paul (health care and deficit reduction)
From the original article:
Other elements of the plan might also deal with concerns from critics in both parties. The plan would give $10-billion of the savings from ending the bank-based system of student loans directly to the U.S. Treasury for deficit reduction. And $9-billion more would be used to help offset costs in the health-care portion of the combined legislation.
Musn't forget the handouts!
The plan issued on Thursday also would include $50-million to help colleges make the transition to the Education Department's direct-lending system, and $50-million to help loan companies avoid job losses due to the transition.
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