In 1992, the US Secretary of the Treasury asked me to join the Federal Reserve as a governor. As I had started a company and made numerous personnel commitments, I declined. Shortly thereafter I received a call from the Chief of Staff to the President of the United States. He bluntly shouted, “Did you really just turn down the Fed or am I being lied to?” When I explained that I was unable to accept a full-time position he said, “OK, I’ll put you on the board of Sallie Mae then.” He hung up.This is a brief introduction and review of a recently published book by Collinge by a reviewer who has inside knowledge of the student loan program. If you wish to delve further into this subject on Fitts' website, I recommend a lengthy article entitled "William M. Diefenderfer: The Financial Hit Man of Student Loans" by Fitts that she wrote in 2011.
Shortly thereafter, I found myself on the board of Sallie Mae, the government sponsored enterprise which securitized student loans.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Saturday, September 12, 2015
The Student Loan Scam with Alan Michael Collinge
Click here to access article by Catherine Austin Fitts of The Solari Report.