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How Illegal Immigration -- Married to Fannie Mae EZ free home loans -- led up to Crash of 2008

Who Still Doubts that both of the two duopoly political parties in USA are not equally controlled by the same foreign and/or megalithic Big 25 Lobbies?

Financial regulatory measures –never truly put into practice -- were commonplace avoidance procedures on Wall Street under Obama’s two terms. It was just lip service. Go to any serious newspaper, New York Times, or another paper of record, and it is easy to find hundreds of articles which examine from 2008 to today, how nothing was really done -- excepting some CNN and MSNBC and FOX and other corporate TV news networks praising to high heavens the insincere words of their "reformer heroes" on the heels of the Crash of 2008.

Republican politicians by their very nature are rarely allowed to talk in a way openly discrediting and naming a large corporation or bank, much less charging it with bad acts, and get reelected. So you get the pink & purple prose from the only other party, the Democrats, owned by the very same lobbies and elite powers that control the Republicans, both parties having nothing to do whatsoever with the representative needs of We the People

Today one can still buy and sell toxic financial CDs and black magic derivatives (debt transformed into fraudulent negative value "assets") in even greater amounts now than ever before, and nobody's hands in finance will be slapped nor cut off. Maybe some politicians have made histrionic theater to appear "strenuously working to deregulate" (like Native American Indian political actress Elizabeth “Squaw” Warren), but it is never more than puppet theater . In real practice and real effects, “same ole same ole,” you might say, rules Washington, and probably most of our State legislatures also.

If you want to single out Democrats for doing something really good -- on the same level which use to be clearly evident for Labor and Workers and civil rights in the 50s to 80s within the Democratic Party (don’t forget the California Nurses Association Union led by RoseAnn DeMoro)-- today this same party has devolved into mostly elevating transgender and LGBT and illegal immigrants matters, to majestic heights, as if such ‘identity-politics’ applies to all of us equally and brings cohesion and relief to all resident legal American people and workers, in their struggle for jobs and healthcare, and freedom from one-click surveillance federal agencies; nor does the Democratic party any longer represent a voice to speak up for them when up against infallible authoritarian law enforcement powers, who can justify just about anything they want to do against you, in these times, including killing you or robbing you within their current interpretations of The Law.

Did you know that for the last 20-something years when legs wide open illegal immigration penetration became a powerful social engineering tool for the elite 1%, neither Republican nor Democrat congresspersons have since then, or yet now, changed the laws much at all to catch up with the times, which still define and disallow illegal immigration? Why are they so remiss to not adjust the laws to fit the current actions of the courts and law enforcers? For slightly more than two decades, the same laws which had already long been on the books of the nation, making illegal immigration, well …. illegal, most of those disrespected laws still exist and just sit on our law books, making a mockery of our current institutions and policies and practices.

If immigration nowadays is in most cases seldom if ever to be illegal in real practice, then why all the chicanery and cowardice -- to without delay -- rewrite these outdated laws? If illegal immigration is still by law illegal, but in practice it is legal, how are we to respond to other "illegal" acts of law, now as a nation? Can we just litter when we are running out of time to find a trash bin? Punch a car salesman in the face for selling us a lemon when he/she won’t take it back, such salespersons of course could not give a crap about his/her sleight of hand, and it is clearly written all over their “caring” concerned face, so in today’s interpretation of the word “illegal,” one can just bust him/her in the nose or teeth, saying “if it’s apparently legal for illegal immigrants with no legal residency here to get driving licenses and jobs and rent apartments and get free emergency hospital care and fill our schools, punching a sales asshole in the snout, which use to be “illegal”, but now in the illegal immigration interpretations of our laws, who’s to stop me from knocking out this sales parasite’s teeth and getting away with it”? And the list of infractions which we can get away with which are termed illegal but in the same boat as illegal immigration laws, grows “legal” more and more in this disrespect for our laws on the books.

Very odd however, indeed, the paradox of how quickly it has been becoming illegal by law to criticize Israel, a land which has forcefully been championing apartheid and in defiance of UN laws now, for at least 4 undemocratic Israeli decades.

By a similar analogy, if a person who does not endorse or support Republicans in any way, nor feel any particular empathy for any of them in office, hey, that does not in and of itself immediately make Democrats acceptable to them by default, just because they are the only opposition to Republicans, does it? In nearly all respects, the people of the United States really don't have any legal political tools at their disposal any longer, except being a member of one party and loathing the other. A kind of paralysis and death that's time must surely be running out, like the race to build more and more illegal settlements supporting apartheid in Israel, against the native Palestinians, who have lived on that patch of land for eons.

Shouldn't Americans be revolting against job losses and their moribund annual economic income growth rate, with their money being bled out by the Fed Reserve for the luxury of international banksters? Look at France recently, regarding her workers, about a hundred French cities revolted against Emmanuel Macron's Rothschild backed union-busting new laws being bullied through their French Parliament, along with the ever broadening EU Temp Agency job replacement laws also taking hold, making it French-EZ and 1-2-3-tres-simple to throw out long term French workers with pensions and good wages, and replacing them with temps from global temp agencies. Americans are too polarized by us versus them identity-politics issues, to take similar French action against household economic dislocations and national financial fraud, at the highest levels of government. Americans need to learn from the French and get their opposition together today, before it is too late tomorrow.


Keiser Report: Ten Years Later - The Architects of the 2008 Crash

PARIS Sept. 11 2017 PROTESTS against Macron draconian Rothschild bankster savaging of French Unions

A few things you need to know about illegal alien immigration: 

  1. It has nothing to do with legal immigrants and shouldn't.
  2. The unions of America cater to mostly only illegal immigrants, it has been on their agenda for already a few decades and they turned their back on U.S. workers long ago like Shylocks and charlatans. Many former heads of the AFL-CIO work for the CIA-funded National Endowment for Democracy [NED] and are in bed with Export Import Bank [Exim] and the GAO, which has lots of leverage with our total Congressional funds [the GAO building in Washington, second in federal size only to the Pentagon, and just as institutional with near identical architecture, has for some time now had the moniker of the U.S. Army Corps of Engineers stuck on their building wall; this is the same CoE which screwed up with our New Orleans levees; the Army Corps of Engineers moniker is imprinted on the wall of the main GAO national building DC pedestrian entranceway--- signifying their internal management by the Corps. Walk by and see for yourself with your own eyes if you have any doubts!]
  3. Rentals of apartments in the USA had been slipping down for a few decades. However nowadays the rental market is bustling with illegal immigrants who have tripled in the overall volume of tenants for real estate dealers and owners and leasors. Many illegal immigrants in the United States own large multiple bedroom homes too, from gift wrapped Fannie Mae supported commercial bank loans handed over to them to the tune of trillions of dollars bled out of the US Treasury to bail out the guilty banks.
  4. Most of the people of New Orleans forced out of their homes by the Category 5 Katrina, and flooded out due to the poor administration and engineering of the US Army Corps of Engineers and FEMA, never returned to their homes because they could not find jobs back in the Gulf Coast near their former homes. Most of those jobs they desperately needed had been snapped up by illegal immigrants and these illegals were encouraged by both Democrats and Republicans to do just so. The native New Orleaners who had grown up in the Delta were displaced and have since been begging to return so that they can help rebuild their beloved New Orleans and Gulf Coast, the city had been a former spectacular ‘black jewel’ and ‘ebony gem’ among the best of historic capitals worldwide, but FEMA and the bevy of federal agencies have made next to no effort to house the former displaced residents or get their temporary trailers up and running. And that was long ago.
  5. The tens of millions of Americans who had been desperately living off of six or seven credit cards rather than file for unemployment insurance or welfare-- that they would probably never even receive if they had applied---dreaming they could get it despite the unhelpful obstacles placed in their way by the bureaucracies of many states --they most frequently go into hiding so as not be called "white welfare niggers" by the minority that have jobs and are acting smugger and smugger in their gated communities --- and these tens of millions suddenly homeless or long without jobs had been sent perpetually adrift by GW Bush's signing of a bill (supported by Joe Biden also) to disallow bankruptcy claims and filings by strapped and hurting workers of America; but steel companies and automobile/aerospace companies and giant banks and criminally charged mega-companies and airlines can laugh and pee on our misery and file file file away billion dollar bankruptcy claims, more swiftly than a financial Desert Storm ripping through our cities and counties.

6.    Many of our uniformed troops signed up to be sent to Iraq and Afghanistan and Mali and Pakistan and East Ukraine and are there because employment prospects were tough and rough here jobwise in the U.S. , due in part to the vast illegal immigrant labor pool and to massive outsourcing to India and China. If Wal-Mart did not hire these bodies, it was off to war for the and possible dismemberment and death. Many families of soldiers abroad have gone to the welfare line at home due to transparent and cold lack of concern among their Congresspersons and Pentagon brass about their economic and neglected plight in their own homeland, treated like the native American Indians were treated in the 1800s. We live in a corporatized military time and reality now, the social milieu much like Greyhound Bus Services maintains their buses and uniformed employees and treats everyone onboard like they have a criminal record and are subhumans. The Greyhound corporate dog logo should be on our national flag now, and not the noble eagle any longer, it is not appropriate today to represent our democracy’s facade any more.

  1. The economies of Mexico and El Salvador and all Central and South America have NEVER BEEN BETTER in their histories as they are today, yet our U.S. economy has never been in a worse situation, with several trillions in dangerous national debt to foreign nations, with a broken industrial base, and rotten school systems that lead to overpriced commercialized money grubbing universities that cater to swarms of rich foreign students, …ha! our Congress has put the same star of its cold uncaring pyramid eye stamped upon our dollar bill onto the vision of SALLIE MAE student loans too, disabling the higher educational aspirations of many U.S. domestic students, and soon they too will revolt and protest even more savagely than the independent minded French student population, and we are as an oppressed peoples awaiting that with baited breath and yearning, yes we are!
  2. Illegal immigrants work not only in farm fields and slaughter houses and construction crews and hotels and senior rest homes, but in offices too, as secretaries, word processors, bank loan officers, car dealer salesmen, city and county road workers, gas meter readers, computer programmers, etc., through subcontractors with multiple recyclable 6-month temp contracts, it is widely known that 47% of all roofers state to state are illegal Mexicans, and that is one fine job and well paid! Think of all the African Americans that excelled in jobs in Detroit auto manufacturing that would swoop down on those roofer jobs like vultures on a dead jobless legal citizen if give first bite! The list is endless of great jobs the illegal immigrants have here, it is a myth that they only do "work nobody else wants to do". They even work with no paperwork required or legality in domestic U.S. Army base high security installations and on hundreds of U.S. military bases abroad! Many of them. A lot of our soldiers in Iraq and Afghanistan are illegal immigrants that are not reported upon in our corporate owned news.

 Even the bulk of our own unions (think SEIU and AFL-CIO) do next to NOTHING to help African Americans nor traditional blue collar workers nor our rapidly shrinking and vanishing middle class and “office worker class,” to stay afloat and to train to keep abreast of new technologies --- so when these impotent and supplicating and feather bedding union managers only reach out like beggars to help just the illegal immigrants to organize and strike against Big Business hegemony and abuses, and not organize and assist us legals, we are in need of some new founding union fathers and a new and bolder drum and fife corps to lead the march, my legal resident brothers and sisters, towards an all new trade union social dimension, divorced from the old compromised unions that let us down! Lace up your boots and pump up the volume! Make some noise and make yourself heard! MARCH citizens, don’t take this lying down !!!!!!!!!!!!!

THE BUSINESS LOBBY (AmCham) is just TOO STRONG for U.S. LABOR RIGHTS, says The Charlotte Observer, in a May 2006 article: “Flawed immigration laws pose risks to everyone, Stolen Social Security numbers used to steal our desperately needed jobs…”

• Illegal workers have received taxpayer money to help build N.C. roads, with neither the federal government nor state agencies requiring contractors to verify workers' documents.

• The IRS and Social Security Administration know of possibly millions of cases in which illegal workers use someone else's Social Security number to get a job -- but they don't let you know if it's your number being used and don't use that information to crack down on the workers.

• The IRS and SSA also don't act upon information that tells them which employers are the most egregious in submitting fraudulent Social Security wage reports -- including one company that used the same Social Security number for 2,580 worker reports.

• Local enforcement officials say they arrest an average of one document counterfeiter every three weeks, and they say there could be hundreds of counterfeit operations in the Charlotte region -- some selling Social Security numbers for as little as $30.

HOW OUR T-BONDS "IMMIGRATED" TO CHINA – hundreds of trillions of U.S. tax dollars floated to the South China Sea …

Jan 23, 2004 -- On the American trade deficit, the IMF also warned ominously, "The United States is on course to increase its net external liabilities to around 40 percent of its GDP within the next few years - an unprecedented level of external debt for a large industrial country." The report suggested that this situation would push the dollar even further down. On the other side of the Pacific, perhaps it should not be regarded as a token of maturity that the money managers who poured funds into AOL, MCI, Enron and Tyco - all with problems, to say the least - are now pouring trillions into Chinese IPOs with the same enthusiasm. It is difficult to see any more economic rationale in the 1,600-times oversubscribed China Green Holdings than the Internet Bubble of the last decade.

 Veteran New York money manager Arnold Schmeidler warns, "We are in a period unlike anything since the 1930s when the world was confronting deflationary forces." "American auto companies are selling their production at zero interest rates, because there is excess capacity." But China is building auto plants to make hundreds of thousands of vehicles....their trend is towards 40 cents an hour wages to make clunker cars for the US in which neither consumer nor manufacturer has much pride.  In fact, as dangerous as it sounds, China currently is lending the US all the money to buy Chinese production.

A few MORE things you still need to know about illegal alien immigration:

Most unions of America have proven to be completely unreliable and disloyal in the post-communist era. Many former heads of the AFL-CIO have worked had in hand with the CIA-funded National Endowment for Democracy [NED] and are in bed with Export Import Bank [Exim] and the GAO, which has lots of leverage with our total Congressional funds.

 Why are we helping undocumented aliens in the USA to buy homes and cars and SUVs and giving away our assets to the booming Chinese economy, who today as a middle class live better than our shriveled and inarticulate middle class here in the USA, especially better than the dissed and neglected displaced denizens of New Orleans and the Katrina afflicted regions. We have produced a surplus of native born PhDs in science and engineering right here at home, for over a decade or two, and yet our lawyers and DC politicians have been doling out H1-B visas to not only alien scientists and engineers but to hairdressers and part time actors/models from abroad, and to county and city meter readers also, and grinning at our shouts and cries of joblessness!

 Our exports are laughable compared to Germany’s ... thus, do we have any real money left in our Treasury that has not been spent on contractors such as Halliburton and Wackenhut and KBG and Carlyle Group & Booz Allen and USIS and CACI, just to mention a few of the insider contractors, with no-bid contracts awash, over in Afghanistan and Iraq?? For these parasites, I don't think so.


and this link…

What the monthly magazine THE WASHINGTONIAN has to say about the unaccountable trillions sucked away by FANNIE MAE, and decries that "Nobody in Washington Messes With Fannie" ... click here for the bang your head read!

WINEP and AIPAC -- the twin demons of the defiant Israeli Lobby in the U.S. Congress and throughout our national Infrastructure--from the LONDON REVIEW OF BOOKS


 Fannie Mae in league with Bank of America and the Hispanic Caucus over $$ trillions worth of faulty home mortgage loans to illegal Mexican/Central American immigrants!

Aug 17, 2005 -- On Tuesday, Bank Calumet announced it would begin extending home loans to illegal immigrants, becoming the first locally-based bank to do so. The loans are known as ITIN loans in the banking business, because borrowers can use their individual tax payer identification number, issued by the Internal Revenue Service, in place of a Social Security number on the loan application. Only legal immigrants can get Social Security numbers. Illegal immigrants are issued ITINs by the IRS so they can pay taxes and file tax returns.

Sept 24, 2008 -- Politicians prepare to fork over $1 trillion in taxpayer funding to rescue Wall Street, Fannie Mae and Freddie Mac, the Community Reinvestment Act and minority-home-ownership promoters. Illegal immigration, crime-enabling banks and open-borders from Bush policies fueled the mortgage crisis. It’s no coincidence that the areas hardest hit by the foreclosure wave – Loudoun County, Va., California’s Inland Empire, Stockton and San Joaquin Valley, and Las Vegas and Phoenix – also happen to be some of the nation’s largest illegal alien sanctuaries. Half of the mortgages to Hispanics are subprime. A quarter of all those subprime loans are in default and foreclosure.

FANNIE MAE website: Non–U.S. Citizen Borrower Eligibility Requirements -- Fannie Mae purchases and securitizes mortgages made to non–U.S. citizens who are lawful permanent or non-permanent residents of the United States under the same terms that are available to U.S. citizens. Fannie Mae does not specify the precise documentation the lender must obtain to verify that a non–U.S. citizen borrower is legally present in the United States.”

(CNN/Money) - Aug 8, 2005: The banking industry and FANNIE MAE are opening its doors to a controversial new market: illegal immigrants. Despite heated political debate in Washington over illegal immigration in the United States, an increasing number of banks are seeing an untapped resource for growing their own revenue stream and contend that providing undocumented residents with mortgages will help revitalize local communities.

FANNIE MAE BONANZA for Illegal Immigrants in USA! The Washington Post, Aug 8 2003 -- Gerardo Cabrera fell in love with the house immediately. There was the bay window in the living room, the fireplace in the den, and -- most enchanting to a man raised amid the concrete of Mexico City -- the woods in the back yard. And so the auto mechanic and his wife, a secretary, decided to pay $200,000 for their own piece of suburban Gaithersburg, a classic tale of immigrants achieving the American dream. Except for one detail: At the time, they were in the United States illegally. Nearly 40 to 50 percent of all immigrants own homes, compared with nearly 70 percent of native-born citizens, according to a study by the Fannie Mae Foundation.


What is a MITIGATION BANK and what does it have to do with military engineers and wetland swap deals and New Orleans Reconstruction? PALACIO !!! Environmental Law Institute. 2002.

Banks and Fees: The Status of Off-Site Wetland Mitigation In the United States” Washington, DC: Environmental Law Institute. July 2002.

 CHEVRON SAVING OUR WETLANDS? THINK TWICE .... Chevron Wetlands Mitigation Bank Receives Final Approval -- NEW ORLEANS, LA (11/30/05) -- Chevron North America Exploration and Production Company has received the final approvals for their Paradis Mitigation Bank. The 7,100 acre wetland mitigation project is located in St. Charles Parish, approximately 23 miles southwest of New Orleans. The Paradis Mitigation Bank was designed by a team of wetland ecologists, soils experts and a Mitigation Bank Review Team (MBRT) from the New Orleans District U.S. Corps of Engineers, U.S. Fish and Wildlife Service, Louisiana Department of Wildlife and Fisheries and the Environmental Protection Agency.

 [Critical Habitats Inc.] MITIGATION BANKS CONSORTIUM, and Palacios Wetland Mitigation Bank, Matagorda Texas on the Gulf Coast! Read more on -- 'In-Lieu-Fee' Mitigation

WHY ARE OUR UNIONS HELPING NEARLY ONLY ILLEGAL IMMIGRANTS TO FIGHT FOR JOB RIGHTS? Are our unions merely fuzzy little kitty cats when up against Big Business and even greedy growing SMEs? [there is a more offensive term for these unions, and it sounds a lot like pussycats]

click here for Feb 2006 UPDATE on "Tight Immigration Policy Hits Reality Bites Roadblock of Desperate Underfunding from Congress" -- from NYT .... "other than Mexican" or "O.T.M.'s -- the number of non-Mexicans crossing the border illegally has soared after smugglers learned that illegal immigrants were being released upon being seized, officials said. The border is now as porous as our Treasury ...

QUESTION: Concerning ILLEGAL IMMIGRANTS--Should they stay here if they DON’T share their homes and cars and trucks and fancy cell phones here in the U.S. with the millions of unemployed, underemployed, working for minimum wage in the still Dark Ages for native and legal Americans? If the ILLEGALS give generously to the homeless here, SHOULD they stay illegally in violation of our laws?

FAIR--click here for 'DOJ memo approving of local/state illegal immigration enforcement' The 2006 Department of Justice believes state and local police are entitled to act when they believe federal immigration laws are being violated. Ripples from the electrically charged 2002 DOJ legal memorandum are being seen throughout the country, as states like New Jersey begin ordering local law enforcement to help U.S. immigration agents get a handle on that state’s illegal immigration problem.

FAIR--click here for "Hurricane Katrina Blows Away Myth of "Jobs Americans Won't Do"

As the Katrina evacuees spread out across the country, many find themselves in direct competition with millions of illegal aliens for scarce jobs. The government estimates that some 400,000 jobs were lost in the Gulf region as a result of the hurricane. These workers, who are now seeking jobs in other parts of the United States, report they are finding jobs in their new, or temporary, homes already filled by illegal aliens.

Roy Beck, a liberal progressive who sees great harm to the American Work Ethic and our Working Classes due to Illegal Immigration ... click here for his classic 1996 book as a free PDF file!

Reviews of Roy Beck's book, click here!
Pulitzer Prize-winning author Jack Miles: Some Americans make money when legal immigration is high. Other Americans lose money. The line between the two groups is, roughly, the line between management and labor. Gently and in a distinctly democratic and liberal tone of voice, Roy makes the case for returning immigration to traditional levels.

What the monthly magazine THE WASHINGTONIAN had to say about the unaccountable trillions sucked away by FANNIE MAE adding that "Nobody in Washington Messes With Fannie" ... click here for the article 6 years ahead of the curve of the preventable CRASH OF 2008, which left only the 1% elite in the driver’s seat of western democracies! Fannie Mae Projects a Happy Image. But as Its Debt Grows Bigger and Its Executives Get Richer, Should the 99% Taxpayers Start to Worry? Aug 2002 article in The Washingtonian, By Ross Guberman. Excerpt: Hostile lobbyists approached Congressman Shays and said, “You’re making a lot of people unhappy with this.” (referring to his attempt to restrain and regulate the obscene financial irregularities of both Fannie Mae and Freddie Mac). Shays, a Republican from Connecticut, knew Fannie’s antennae stretched all over town, but he never expected that a few stray remarks would trigger such a reaction. Figuring he was on to something, Shays teamed up with Edward Markey, a Massachusetts Democrat, on a bill to apply the government’s disclosure rules to Fannie Mae and Freddie Mac. Wealthier than most nations, Fannie Mae is known to try to devour anyone who crosses it.


Legendary article in London Review of Books, LRB | Vol. 28 No. 6 dated 23 March 2006 | John Mearsheimer and Stephen Walt on THE ISRAELI LOBBY in USA


TRILLIONS DOLLARS SWINDLE BUBBLE Just Waiting to Burst same as the Home Loan Mortgage Fannie Mae Swindles that created CRASH OF 2008!

On September 17, 2010, it was announced that Sallie Mae will acquire federally insured loans from Citigroup-owned Student Loan Corporation worth $28 billion. On Feb 25, 2014, Sallie Mae (aka SLM Corp) announced the new name for the student loan side which will be called "Navient". Navient now manages nearly $300 billion in student loans for more than 12 million customers, the company was formed in 2014 by the split of Sallie Mae into two distinct entities, Sallie Mae Bank and Navient. It seems around this time Sallie Mae sold off all her student loan assets and then bought them back again under their new business name change to Navient, and thereby avoided many lawsuits and prosecutions and it is the same ole same ole Sallie Mae swindle and rake off that it was, but now with a face lift and name change to NAVIENT. Already by In August 2015, the Consumer Financial Protection Bureau sent Navient a letter telling its executives that the agency's enforcement staff had found enough evidence to indicate the company violated consumer protection laws. On May 28, 2015, the United States Department of Justice announced that nearly 78,000 military service members would begin receiving $60 million in compensation for being charged excess interest on their student loans by Navient.

National student loan debt has climbed to $1.4 trillion as of 2017

You probably don't know the real roots of TED lectures and videos and TEDx byproducts, do you? TED is tied into this SALLIE MAE swindle bindle through LUMINA FOUNDATION, a Libertarian NGO now based in VP Mike Pence's Indiana, ... CLICK here to catch up on real-time events and get out of bed with TED!


In June 2016, stockholders filed a class action lawsuit against Navient. The plaintiffs included Chicago police officers and retired city employees in Providence, Rhode Island. Up to 2017, already "tens of thousands" of complaints were filed against Navient. In 2017, 6,708 federal complaints were filed about the company, in addition to 4,185 private complaints – more than any other student loan lender in the history of the world.

The Crony Capitalism of Sallie Mae, July 2013

How SALLIE MAE (aka SLM Corp) College Loans Got So Evil, a video

July 2018 -- Navient, the Delaware-based student loan management corporation formerly known as Sallie Mae, is being sued by California’s Attorney General Xavier Becerra. In a suit filed Thursday, Becerra accused Navient, the nation’s largest student loan servicer, of cheating thousands of borrowers and forcing them to repay more than they owed. Becerra’s suit alleges that borrowers were steered toward repayment plans that exceeded their income levels, and that in some cases, Navient misrepresented how much borrowers owed. When forced to pay more than they owed, many borrowers then defaulted on their student loans. “By taking Navient to court, we’re sending a very strong message that these practices will not be tolerated,” he said before the filing, according to the San Francisco Chronicle.

National student loan debt has climbed to $1.4 trillion as of 2017

In February 2007, New York Attorney General’s office launched an investigation into deceptive lending practices by student loan providers, including The College Board, EduCap, Nelnet, Citibank, and Sallie Mae.. On October 10, 2007, documents surfaced showing that Sallie Mae was attempting to use the Freedom of Information Act to force colleges to turn over students' personal information to unfriendly predatory hands. The university involved was SUNY, State University of New York, which declined the request and was forced to defend its position in court. In December 2007, a class action lawsuit was brought against Sallie Mae in a Connecticut federal court alleging that SALLIE MAE discriminated against African American student loan applicants by charging them much higher interest rates and fees. The lawsuit also alleged that Sallie Mae failed to properly disclose profit gouging terms in student loans to unsuspecting students. Finally, under the terms of a settlement, Sallie Mae agreed to make a $500,000 donation to the United Negro College Fund and the attorneys for the plaintiffs received a whopping and handsome $1.8 million in attorneys' fees for being the erudite middlemen. (Wikipedia)