The Impending Student Loan Debacle
Lede:
The impending student loan debacle is an echo of the subprime mortgage crisis of 2008 with similarly broad implications for the economy. James H. Nolt argues it also helps explain the division between both the Republican and Democratic Party establishments and their insurgent candidates reflecting voter anger against another potential insider bailout as in 2008.
By James H. Nolt
“Corruption is a constant, but scandal is a variable.” This aphorism is one of several coined in my book International Political Economy: The Business of War and Peace. It applies well to the impending student loan debacle now hitting the headlines in the midst of a seemingly (but actually not) unrelated stock market crash.