Cenk Corners Biden Team on Student Debt

[sagesnow]

[evertonfc]

1. Cenk

is a smuck to me. He's a bit of an ass and so far down the totem pole of relevancy, I'll pass on video but thanks for posting

[PatrickforO]

3. Well, Cenk is right on this one. Biden was in fact one of four

Democratic senators that supported that bill, and he actually quashed several amendments to it that would increase transparency around revolving credit card debt.

Now, I can understand why he supported it - he represented Delaware, where many of the big finance companies are incorporated (because it doesn't have usury laws). It was these credit card companies that lobbied, lobbied, lobbied to change the bankruptcy laws to make it harder for people who had already lost everything by making them have to pay back more.

From the perspective of the credit card companies, of course, this is a very good law, one they wanted. We live in a world of primacy of the shareholder, which means the main responsibility of any CEO of a publicly traded company is to increase shareholder earnings. Throughout the 70s, 80s, 90s and into the 00s, the shareholder was king. CEOs would bust unions, drive wages down, pass more of the benefit costs onto their workers, as well as cutting corners on worker safety and gobbling up pensions illegally when they could.

To cut 'cost of sales' CEOs would decrease the size of packaging yet charge the same price, and way back in the 50s and 60s began planning obsolescence. We see this big time now in our mobile phones. In terms of financial (credit card) agreements with consumers, the companies wanted to be freer of regulatory constraints surrounding transparency (like, how many years will you have to pay if you just pay the minimum, and how much total will that cost you), and certain predatory lending practices, including raising interest without notice, raising the minimum amount due without notice and so on.

This bankruptcy law was part of that overall effort to lighten regulation and allow for more revenue capture even in the face of bankruptcy. Good for credit card companies and good for their shareholders, and Biden did in fact support it.

I don't hate Biden for that, you understand. He is a child of his time, and his place. But I'm not supporting him this primary season due to that, and to his conduct in the Anita Hill testimony. I'll support him if he's the nominee, but I believe his support is a lot softer than we think in the early states.

In the end, I suspect the nominee will be Warren and that isn't just wishful thinking, though I do wish it.

[mikeysnot]

5. But yet here you are

attacking the messenger with ad homonym attacks and not what he was pointing out.

BTW this was chuck grassleys abomination, and was widely supported by republicans than D's, and signed into law by w.

Bernie Sanders opposed this crap bill.

[beastie boy]

7. I still have an issue with Biden's vote on the bill, even though it happened 14 years ago. But Cenk?

Frankly, he has been making a living by making a fool of himself for so long, I wouldn't have the patience to sit through a 22 minute clip of him regurgitating a 15 second gotcha question to find out what I already know.

Given his record, he doesn't exactly project credibility, even when he happens to have a point. There are other, more reputable sources (Warren, for example) I can go to. Even a broken clock shows the right time twice a day. Something I can't say with any certainty about Cenk.

[LanternWaste]

17. More or less an ad hominem than

More or less an ad hominem (a logical fallacy rather than words that sound the same yet have different meaning) than "I was like fuck you!!!. Who the fuck are you."?

Yet here you are, indeed.

[Backseat Driver]

2. THIS!

Combined with the wholesale sell-out of middle-class American career workers to H1-Bs and also being made redundant by the flurry of mergers/acquisitions, reorganizations so already rich board members and CEOs could access their "golden parachutes" and stagnant "no career path" jobs at the student level - DAMMIT - racketeers in government and banking guaranteed funds to the principles at the same time endorsing policies that royally screwed families purposely targeted in the build-up and years of the Great Recession - the banks got Congressional bail-out, but there was no remedy for students or their families caught up in their collusion of greed! Still, there is no remedy for the injured "victims." Bully for you few if you've repaid; a lot more have never or will they ever recover - all the old discriminations of "elite white privilege" are played out: misogyny, ageism, racism, undividual and familial "health" and "disabling" situations post-loans make for the perfect storm!

The least they could have done was keep those with taxpayer-paid student loans guaranteed by government working! The lenders got blindsided by labor trends? - NOT!

[Celerity]

4. oh yay! a TYT thread, just what my afternoon was missing

[BlueMississippi]

6. Fuck Cenk nt

[sagesnow]

18. Great example of

name calling. Poor example of countering the charge that Biden supports and is supported by Big Student Loan Lenders in Delaware.

[BlueMississippi]

22. Fuck Cenk again nt

[ehrnst]

8. TYT... the National Enquirer for the far left. (nt)

[sagesnow]

19. Yes. You are correct

Cenk is good counter against far right extremists while staying within the bounds of Truth. He is the Left Talk Show that Liberals and Progressives sorely need.

[Gothmog]

9. I stopped paying attention to Cenk and TYT a long time ago

[Otto Lidenbrock]

10. Cenk Uygur the former Republican

I get a laugh when he accused Hillary in 2016 of being meek on healthcare.

20 years earlier Hillary was lobbying for comprehensive healthcare coverage and the people Cenk supported / voted / aligned with quashed that from happening.

[sagesnow]

20. As a former Republican

I can attest that people can change. "I've seen the light" really does happen to some of us.

[sagesnow]

11. It seems to me that when people can't answer a hard question,

oh boy, do they attack the messenger.

[TwilightZone]

12. In this case, it's probably deserved.

Cenk spent years denying the Armenian Genocide before begrudgingly bowing to pressure and issuing a non-apology apology.

It's somewhat difficult to take him seriously in part for that reason, and I don't blame people for writing him off. I personally don't consider him or TYT a valid source for much of anything.

[sagesnow]

14. Off topic.

Biden's vote for this bill has basically left millions of American's as indentured servants for life, in order to pay their crushing student loan debt. He was bought and paid for by the bankers in his state. Please answer that charge and start your own thread on Armenian genocide later.

[TidalWave46]

13. Cenk can go pound sand.

Has he held his Iowa rally in which he claimed was going to change politics forever? What a tool he is.

[PhoenixDem]

15. Cenk the con man speaketh

and the patsies listen ......

Cenk can go to hell

[sagesnow]

16. Attack the messenger of truth...

Joe Biden took millions of dollars from Delaware based banks in order to rig the system against American students. As a result we now have over 1.1 million people who owe more than $100,000 in student loan debt. This encouraged banks to make more and riskier loans without having to worry about losses. Meanwhile our pResident has declared bankruptcy 6 times. https://www.politifact.com/truth-o-meter/statements/2016/jun/21/hillary-clinton/yep-donald-trumps-companies-have-declared-bankrupt/

[PhoenixDem]

23. Biden supports banks because banking is the number 1 industry in Delaware

and his constituents work for those banks.

By the way "Biden took millions from banks" is malarkey ... corporations CANNOT donate to Federal candidates. Only individuals can.

Also, when someone takes out a loan, they should see how appropriate it is. No one borrows 2 million on a house worth 100K. Similarly, borrowing 100K to get a $22K job is not very smart yet many did and now they want taxpayers to pay it off.

Some students need relief and yes, those loans should be zero interest with direct withholding of payments from paychecks.

Cenk is a con man and he cons extreme left wing people to line his pockets .

[Cha]

21. I don't give a shite what cenk has to say

about anything.. if you don't want people to "attack the messenger".. find another source.

FO cenk.