Credit Talk USA Worldwide Live Student Loan Forgiveness Act 2012: would you vote for it?

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Student Loan Forgiveness Act 2012: Rep. Hansen Clarke Proposes Bill To Cut Debt After 10 Years
U.S. Rep. Hansen Clarke (D-Mich.) joined students from a classroom in Detroit to discuss his plan to ease student loan debt. Taking advantage of Google's video conferencing service Google+ Hangout, Clarke explained the details of his Student Loan Forgiveness Act of 2012 to a physical audience at Wayne State University, as well as a virtual one comprising students from across Michigan and the country.
H.R. 4170 would forgive student loan debt for those who have paid 10 percent of their discretionary income toward their loans for 10 years and would cap interest on federal student loans at the current rate of 3.4 percent. Individuals who go into teaching, public service or practice medicine in underserved areas would have their debt forgiven after only five years.
"Everyone tells us to go to school and work hard and we'll be rewarded for our dedication," Clarke said Tuesday. "But the promise of a dream can turn into a nightmare for so many people."

http://www.cnn.com/2012/04/26/opinion/kamenetz-obama-higher-education/index.html

Credit Talk USA Live - Congress won't fix economy

American how much longer can this go on. Most families can not even pay your their bills and congress needs to help people.  Tell me what you think.. This is what is being said.   Economists have lots of ideas about what can be done to help jumpstart the still weak economy, but they don't expect Congress to enact any of them any time soon. On Credit Talk USA Worldwide LIVE on Thursday 11amcst on blogtalkradio.com
A survey of economists by CNNMoney found most don't expect Congress to pass any kind of economic assistance anytime in the foreseeable future. Only about a third of the 16 who responded to the survey expect some kind of action early in 2013, after the election. Just one expects action in a lame-duck session after the election but before the end of the year. None of them expect action before the election
"Two weeks after a sudden freeze in hell," is when Bill Watkins, of the Center for Economic Research and Forecasting at Cal Lutheran University, expects Congress to ride to the rescue.
Watkins and his colleagues are the most concerned of those surveyed about the recent weakness in a number of economic readings, including much weaker-than-expected job growth in the March jobs report. They were the only ones who checked the very concerned box.

http://money.cnn.com/2012/04/18/news/economy/forecast-congress/index.htm?iid=Lead

Credit Talk USA Live - Bill To Cut student loan debt After 10 Years

Student Loan Forgiveness Act 2012: Rep. Hansen Clarke Proposes Bill To Cut Debt After 10 Years
On Tuesday, U.S. Rep. Hansen Clarke (D-Mich.) joined students from a classroom in Detroit to discuss his plan to ease student loan debt. Taking advantage of Google's video conferencing service Google+ Hangout, Clarke explained the details of his Student Loan Forgiveness Act of 2012 to a physical audience at Wayne State University, as well as a virtual one comprising students from across Michigan and the country.
H.R. 4170 would forgive student loan debt for those who have paid 10 percent of their discretionary income toward their loans for 10 years and would cap interest on federal student loans at the current rate of 3.4 percent. Individuals who go into teaching, public service or practice medicine in underserved areas would have their debt forgiven after only five years.
"Everyone tells us to go to school and work hard and we'll be rewarded for our dedication," Clarke said Tuesday. "But the promise of a dream can turn into a nightmare for so many people."
Angie Rider, who attended the Wayne State session, is feeling that nightmare.
"Its always the overarching theme of my life, all my student loan debt," Rider said. "It's trapped me ... it feels helpless and hopeless."
Rider is a teacher at an elementary school in the Brightmoor neighborhood of Detroit. She said 30 percent of her income goes to paying her student loans, and she still owes nearly $100,000 after five years of payments, which she makes on time each month.
"I've wanted to be a teacher for so long I can't even remember," she said. "I have my Bachelor's degree and my Master's degree, which is supposed to help you become a great teacher, [but] you dont get paid enough to pay off what it costs you."

ttp://www.huffingtonpost.com/2012/04/10/student-loan-forgiveness-act-2012-hansen-clarke_n_1415910.html

Credit Talk USA Live - Congress ready to tackle postal reform

Congress is expected to finally start debating ways to save the struggling U.S. Postal Service.
As early as this week, the Senate could take up a bipartisan bill that offers buyouts to senior employees, cuts worker compensation benefits and makes it possible to end Saturday service in two years. The House could start work on a different postal bill in coming. Congressional action would throw a lifeline to the deeply indebted Postal Service, which wants to cut Saturday service, delay delivery of some mail, and close hundreds of postal processing plants and post offices, triggering tens of thousands of job cuts nationwide.
Congress has until May 15, when a moratorium on closing postal facilities expires. If Congress does nothing, Postmaster General Patrick Donahoe has made it clear he intends to start closing and consolidating 223 postal plants.  What are your thoughts what if they were no more Saturday mail?

http://money.cnn.com/2012/04/16/news/economy/postal_service_congress/index.htm?iid=HP_LN

Credit Talk USA Live - JPMorgan's Dimon gets $23 million for 2011 ....

JPMorgan's Jamie Dimon says 2011 was a good year, but that "contrived" banking regulations are slowing the U.S.'s economic recovery.
FORTUNE -- Jamie Dimon is still Wall Street's top dog.
JPMorgan Chase (JPM) disclosed on Wednesday afternoon that it paid its CEO $23 million in 2011. That was the same as last year, but it handily made Dimon, for the second year in a row, the best paid CEO in banking in 2011 - a year in which many other top financial executives saw their pay cut. Dimon's pay for instance, was more than double rival Goldman Sachs (GS) CEO Lloyd Blankfein, whose pay likely dropped to $9 million for 2011, down nearly $4 million from the year before. The only CEO who was even close to Dimon was Wells Fargo's (WFC) John Stumpf, who got a total pay package of just under $20 million.
Dimon received $6 million of his $23 million in salary or cash bonus. The rest was paid in restricted stock and options, the first portion of which will start to vest in early 2014. And while Dimon was also the only JPMorgan executive who managed to avoid a pay cut in 2011, the pay of the other executives make it clear that big paydays are far from over on Wall Street. JPMorgan's investment banking chief James Staley, for instance, got paid $16 million for last year, including a $5.3 million cash bonus. JPMorgan's CFO Douglas Braunstein saw the biggest drop in pay to $9.5 million for 2011, down $3 million from the year before.

http://finance.fortune.cnn.com/2012/04/04/jpmorgan-ceo-dimon-23-million/?iid=HP_River

Credit Talk USA Live - Fannie Mae Freddie Mac could allow reductions on mortgages

The world will only have to wait a few more weeks to find out whether Fannie Mae and Freddie Mac will allow principal reductions on mortgages they back.
The Federal Housing Finance Agency will decide this month whether Fannie and Freddie should allow write downs on the balances of borrowers who owe more than their homes are worth, said Ed DeMarco, acting director for the agency. Fannie and Freddie have been at the center of a tug-of-war over fixing the housing market. They have long resisted calls to write down the balances on the loans in their portfolio, saying it would be too costly for taxpayers.
But the pressure has been building, especially in the wake of the $26 billion mortgage settlement that will reduce principal for 1 million borrowers whose loans aren't backed by Fannie and Freddie.

http://money.cnn.com/2012/04/09/news/economy/mortgages-principal-reduction/index.htm?iid=HP_LN