Contributed by GoldBugGal
A history of how Amerika became a police state. And nobody saw it coming? No, it’s government run amok, and apathy, laziness and stupidity on the part of the people.
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The question is .. is there any way to stop it?
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All, and Everything that’s happening to Americans today is called reaping the Effects of the Cause.
Whatever’s happening to Americans and America, it is deservedly so.
Here, the plundering, piranha parasitic nation called America.
That I call America a nation of parasites , descendants of parasites 234 years ago, is confirmed with the piranha debt collectors going after $1 trillion student loans. While the US potus, Wall Street, American Banksters, and the US Congress loot the money from the unemployed, the small businesses, the struggling farms, and the ordinary, on a daily basis.
Not only that, BUT both president and Congress Violate their Oaths of Office. With much aplomb!!
With rising unemployment and no industry to speak of except the trade in Drugs (America’s potus is the Warlord) and mass murder of peoples and nations, Debt Collection is, today, a Booming Industry in Satan’s country – America.
While the Department of Education debt collection contract has been one of the most highly sought-after contracts within the ARM industry for years, it is now THE most sought-after contract within this industry, centered within the most sought-after market – student loans,” mergers and acquisitions specialist Mark Russell wrote on Insidearm.com.
It’s a win-win situation for both the government and collection agencies. Government officials estimate they will collect 76 to 82 cents on every dollar of loans made in fiscal 2013 that end up in default. Borrowers then have to pay collection costs, which go straight to the debt agencies.
In addition to the balance, borrowers are charged for collection costs, which go straight to the debt agencies.
The rewards trickle down to other areas, too.
Educational Credit Management Corp. (ECMC), a Minnesota based agency, benefits from its 18-year-old agreement with the US government, according to Bloomberg News.
The company charges fees to borrowers and earns commissions from taxpayers when it collects on defaulted student loans. And the rewards are lucrative.
ECMC’s debt collectors earn financial perks as a reward from extracting money from defaulted borrowers. In 2010, the company’s top performers received bonuses equivalent to as much as 10 times their base salaries, which range from $33,000 to $46,000.
It’s the closest thing to debtor prison that there is on this Earth,” former student Patrick Writer said of his federal loan.
This is America — land of the free, democracy, human rights.
Amerikaners must be sooooooooooo proud of their land and their leaders.