Sallie Mae Bailout?

COMPLAINT #1 (Office of Inspector General / Department of Education) "Anyone suspecting fraud, waste or abuse involving Department of ...

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Reconsidering a billionaire's letter to Obama

Cooperman underscores that he was “not to-the-manor-born.” His father was a Polish immigrant who worked as a plumber in the South Bronx. He also notes that he benefited from a “good public education system” and a government-backed college loan.

We should interject: Cooperman profited from government support not only as an up-and-comer, but also as a wealthy shareholder in companies that received government bailout money. Among his investments reported to the SEC in November were General Motors, JPMorgan Chase, Lincoln National and SLM, parent company of Sallie Mae.

But back to the letter. Cooperman writes, “The divisive, polarizing tone of your rhetoric is cleaving a widening gulf, at this point as much visceral as philosophical, between the downtrodden and those best positioned to help them.”

Many would quarrel with the idea that Cooperman belongs to a group best positioned to provide assistance. And speaking of gulfs, his mention of “the downtrodden” conjures BP Chairman Carl-Henric Svanberg talking about “the small people” after the oil spill.

Sallie Mae-Westwood Diploma Mill Federal Student Loan Fraud #1

COMPLAINT #1 (Office of Inspector General / Department of Education) “Anyone suspecting fraud, waste or abuse involving Department of Education funds or programs should call or write the Inspector General’s Hotline.. OIG Fraud Hotline” ~ ed.gov Sallie Mae was the _only_ financial lender involved in the diploma mill fraud… and now ask Congress for a bail out?? GO TO GOOGLE AND RESEARCH THESE 2 THINGS: 1. Westwood Diploma Mill Scam 2. 60 Minutes Sallie Mae Fraud Students say college misled them Tuesday, February 22, 2005, By BYRON HARRIS / WFAA-TV “The sales pitch said Westwood is accredited; students said that led them to believe the school has the same academic status as well-known colleges and universities. But the sales pitch doesn’t mention the fine print on the back of the contract, which said “Westwood College of Technology makes no guarantee of credit transfer.” In fact, these students found that when they presented their Westwood