There has been increasing talks about reducing the risks in our economy. While I’m not suggesting the following, but people can’t be all that serious about reducing risks if they aren’t including in the option to wipe out student debt. We have a trillion dollars worth of debt borrowed by people who make very little money and who have nothing. Essentially, most people have negative equity in their own lives. It’s hard to take an argument to reduce economic risk seriously when almost all of consumer debt can be paid off by people who can afford to pay it off while improving both the lives of debtors and the economic system by having paid for education.
Just a quick thought this crisp Saturday morning in New York.
Marcus Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses. He is a member of ACAMS and ACFE.