MOHELA To Miss Another Lewis & Clark Payment
Submitted by Howard Beale on Fri, 06/27/2008 - 5:57am.
The latest chapter in the rousing success of Matt Blunt's crowning legislative achievement, the sale of assets from the state's student loan agency.
This good news about MOHELA's continued inability to make scheduled payments follows last month's good news about MOHELA seriously curtailing borrower benefits.
Uhh, can we officially call Blunt's asset sale a failure yet, or are we supposed to keep pretending until he leaves office?
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$350,000,000
Do I understand you (blessedcurse) are saying the selling off of $350,000,000 in assets did not weaken MOHELA? I would think the bond market would be strong right now not weak.
I still think the Lewis and Clark Initiative was a mistake and unloading $350,000,000 dollars in assets had to weaken the organization.
Gayle Kingery the Chairman of Higher Education Committee in the Missouri House of Representatives boasted about looking for ways to spend money. Apparently the republicans were looking for ways to purchase political support. There was no thought given to the long term impact of the short term Blunt/Kinder thinking.
You have once again
You have once again proven your willingness to misrepresent a very straight forward situation to make a political statement. And once again, you've given us an illustration of shoddy journalism. At the expense of your readers, you continue to fail to look deeper into the situation.
MOHELA's woes have very little to do with Lewis & Clark and are mostly due to the colapse of the auction rate bond market and changes in federal regulations governing student loan lenders (For those readers who want a thoughtful article on MOHELA's current financial fiasco and the missed Lewis & Clark payments, Eric Mink has writen a fine series of articles documenting the situation).
If MOEHLA's problems were due to Blunt's policies, Congress and still president Bush would not have needed to pass legislation to stabilize the entire student loan industry - this is a national crisis, not a Missouri one.