Obama And Democrats To Sallie Mae Workers About To Be Unemployed: Screw You!

The Democrats, through their health care bill, just took over the student loan program. because of this, about 2,500 employees of Sallie Mae, a company that provides college loans will be laid off. There will be more layoffs from this legislation as other companies lose business. "Powerhouse student loan provider Sallie Mae says layoffs are imminent as a result of President Obama's new student loan overhaul.
"This legislation will force Sallie Mae to reduce our 8,600-person workforce by 2,500," Conwey Casillas, Vice President of Sallie Mae Public Affairs, said in a statement to Fox News.
Obama was at Northern Virginia Community College in Alexandria on Tuesday to sign the student loan changes into law. The new bill includes a provision for the government to begin directly lending to students, bypassing financial institutions like Sallie May that traditionally have provided the loans. Obama said that such institutions have soaked up billions in subsidies.
"Now, it probably won't surprise you to learn that the big banks and financial institutions hired a army of lobbyists to protect the status quo," Obama said. "In fact, Sallie Mae, America's biggest student lender, spent more than $3 million on lobbying last year alone."
Indeed, Sallie Mae has been outspoken in its opposition to the plan, calling it a "government takeover" just last month." http://www.foxnews.com/politics/2010/03/30/sallie-mae-blames-layoffs-obamas-student-loan-overhaul/
Obama, Reid and Pelosi's view is that since the government guarantees the loan, they should also reap the rewards from the interest collected. Fair enough.
But Obama, Reid and Pelosi are against companies making profits and this is why they took over the student loan program.
Instead of the government taking over, they should have let the banks and Sallie Mae run the program and get government out of the business.
The Federal government now controls about 48% of the U.S. economy. From the bank bailouts, auto industry bailouts, taking over most of the countries mortgages from Freddie Mac and Fannie Mae, health care and student loans. Soon, they will set their sites on some more industries, I predict. We have a socialist government and it happened within the last 2 years.