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Transcripts for MSNBC Loan Wolves 20240604 03:09:00

oh, okay. that s you? in the defense industry. i had health care. i had a house. i had many things. i have none of those things today because i decided that the most useful thing that i could be doing with my life was fighting this battle. the lenders pull out all the stops against our best and brightest for the crime of going to college. this lending system has now catastrophically failed. it s galactically failed by all rational metrics and measures. we now owe close to $2 trillion in federal student loan debt. and you know, it seems like nobody s really even paying any attention to it, so. - whoa. there was definitely a story here. but was alan right about its magnitude and that no one was doing anything about it? - we re just gonna have to clear this whole area out,

Transcripts for MSNBC Loan Wolves 20240604 03:09:00

- when i first started this, i had a good job in the defense industry. i had health care. i had a house. i had many things. i have none of those things today because i decided that the most useful thing that i could be doing with my life was fighting this battle. the lenders pull out all the stops against our best and brightest for the crime of going to college. this lending system has now catastrophically failed. it s galactically failed by all rational metrics and measures. we now owe close to $2 trillion in federal student loan debt. and you know, it seems like nobody s really even paying any attention to it, so. - whoa. there was definitely a story here. but was alan right about its magnitude and that no one was doing anything about it? - we re just gonna have to clear this whole area out, both tires.

Transcripts for MSNBC Loan Wolves 20240604 03:03:00

and say, oh, my god, two lines in the bill changed the lives of millions of americans. - and my personal journey to uncover how student debt crushed the american dream. - this lending system has now catastrophically failed. - this thing has just spun out of control. - i see you ve got a whip in your hand. - this is not a whip. it s a flogger. - oh, okay. and who was secretly behind it. - we are trying to figure out where it came from. - who? - nobody put their name on this one. - unraveling this political scandal would require listening. - adults tell you, you have to go to college. - i did what i was supposed to do. - and it feels like somebody lied to you somewhere along the way. - traveling the country. - glad you showed up, man. - tremendous focus. [whimsical chords] and steely determination. - it is a problem. did congress even know what it was doing? - it s keeping me up at night. - this was a legislatively manufactured crisis. - this is a scam. - it s the greatest robbery in mod

Transcripts for FOXNEWS Americas Newsroom With Bill Hemmer Dana Perino 20240604 13:57:00

astounding. before the pandemic 80% of all borrowers, half of whom are republican or independent despite what you might think, were underwater on their loans. more than half were not paying. this lending system by all rational metrics is catastrophically failed and president biden dana: who do you think should pay the debt, the general taxpayer? the taxpayers pay for these loans many years ago and they did not pay 1.6 trillion. unlike ppp loans, which majority went to the highest 20% income bracket, student loans can be canceled without needing one dime from the treasury and without having even one penny to the national debt. there is no easier, cheaper way to stimulate the economy and this lending system is at the point we need to take it to the bath and drop it in the tub. dana: do you think we should stimulate the economy with inflation the way it is? i think inflation is wrecking student loan borrowers.

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