Elizabeth Warren HQ: She's Got A Plan!
- Thread starter King Kreole
- Start date
Secure Da Bag
Veteran
King Kreole
natural blondie like goku
How is that a weak response, it's literally the truth. Amazon acting like these tax laws and the loopholes in them are just some random, naturally occurring phenomenon that they're just a passive actor in, whereas Warren is exposing the fact that they're abusing their monopolistic powers and spending millions of dollars to lobby Congress and create those loopholes.
Secure Da Bag
Veteran
it's a weak response because Congress wrote those loopholes and breaks into the system and never wrote them out. They've been on the books for YEARS.
King Kreole
natural blondie like goku
Follow through on that line of thinking. Why did Congress write and maintain those loopholes and breaks in the system that only benefit companies like Amazon? Corporate power, like that Amazon wields with impunity, has infected the political process and is guiding outcomes. The millions of dollars they're spending on lobbying isn't a charitable donation from Amazon to Congress. The fact they're putting HQ2 in the region isn't a coincidence. Amazon is throwing stones and hiding hands, Warren is calling them out for their role in this process. Break up these companies, reduce their power to influence the political process, make them pay their fair share, and restore democracy.
Secure Da Bag
Veteran
Take your own advice. Congress is so weak that corporations just bent to their will and wrote without even thinking. Democrats were there the entire time and even benefit from those bills. But now you're saying that Congress with those same people are now gonna rewrite all the laws and stop this, right now!
She gave a weak response. Deal with it.
King Kreole
natural blondie like goku
I don't understand, do you seriously not believe there is corporate corruption in Congress? That corporations don't play an outsized role in creating the corporate-friendly policies Congress enacts? That the millions spent in lobbying are fake transactions?
What would a strong response to Amazon's flaunting of their domination over Congress look like to you? "Yes, we suck and give up! You win, Amazon!
" What Warren is proposing is to break the yoke by breaking up these monopolistic companies so they can't dominate society. Remember how local and state governments were eagerly bending over for Amazon during that HQ2 sham? That happened because Amazon was able to make credible threats and offers due to their monopoly power. Break them up.
businessinsider.com
Elizabeth Warren is holding her first hearing on student debt cancelation. Here's what to expect.
Ayelet Sheffey
5-6 minutes
On Tuesday, 11 witnesses, including Rep. Ayanna Pressley of Massachusetts and the CEO of student-loan servicer Navient, John Remondi, will testify at a hearing on the burden of the $1.7 trillion student debt crisis in the country. This will be Warren's first official hearing on the topic, and it will likely amplify her previous calls on President Joe Biden to cancel $50,000 in student debt per person using his executive powers.
Pressley, who joined Warren in February to reintroduce a resolution to cancel $50,000 in student debt per person, said in a testimony published ahead of the hearing that she knows "what it feels like to wake up in a cold sweat over a student loan in default," and in a matter of months, she said, the pause on federal student loan payments will be lifted, and many people, disproportionately people of color, will bear the burden of these payments.
"So, as we work to ensure an equitable and prompt recovery to the current economic crisis, we can't afford to make the same mistakes of the past. We must be intentional and precise," Pressley said. "And student debt cancellation is an efficient and effective way to provide families across this nation with economic relief and opportunity."
Remondi is another notable witness attending the hearing. Navient is one of the nation's largest student loan servicers, and, according to a letter to Remondi from Warren, currently services federal loans to 5.6 million borrowers and holds over $58 billion annually in federally guaranteed Federal Family Education Loan Program (FFELP) loans.
Warren said that between 2009 and 2019, Navient has been accused or fined for "actions that ripped off borrowers," including the improper marketing of loans and failing to notify borrowers of their rights.
In addition, an ongoing Consumer Financial Protection Bureau investigation found evidence that Navient "systematically steered thousands of borrowers who were having difficulty paying their loans into plans that were worse for the borrowers – but more profitable for Navient."
In February, three student loan borrowers filed a legal action against Navient, arguing that Navient owed them over $45,000 in overpayments that the company had wrongfully collected after their student loans had been discharged. This followed an Education Department ruling that Navient must repay the government $22 million in overcharged student loan subsidies.
Remondi will likely be asked to respond to those claims during the hearing.
Also attending the hearing are Maura Healey, the attorney general of Massachusetts, and James Steeley, president and CEO of the Pennsylvania Higher Education Assistance Agency.
Insider reported on Tuesday, citing Education Department data, that canceling $50,000 in student debt per person could wipe out the entire debt burden of 84% of federal student loan borrowers.
businessinsider.com
Elizabeth Warren says the government should fire student loan servicer Navient, which should fire its CEO
Ayelet Sheffey
4-5 minutes
"The federal government should absolutely fire Navient, and because this happened under your leadership, Navient should fire you," Warren told Remondi during the hearing.
Warren, as the chair of the Senate Subcommittee on Economic Policy, called 11 witnesses to testify at the hearing to discuss the impact of student debt on borrowers, racial justice, and the economy.
Warren said in her letter to Remondi inviting him to testify at the hearing that while Navient currently services federal loans to 5.6 million borrowers and holds over $58 billion annually in federally guaranteed Federal Family Education Loan Program (FFELP) loans, it also has "been a contributor to the problem, with a decade-long history of allegations of abusive and misleading practices aimed at student loan borrowers."
She added that between 2009 and 2019, Navient has been accused or fined for "actions that ripped off borrowers," including the improper marketing of loans and failing to notify borrowers of their rights.
And an ongoing Consumer Financial Protection Bureau investigation found evidence that Navient "systematically steered thousands of borrowers who were having difficulty paying their loans into plans that were worse for the borrowers — but more profitable for Navient."
In February, three student loan borrowers filed a legal action against Navient, arguing that Navient owed them over $45,000 in overpayments that the company had wrongfully collected after their student loans had been discharged. This followed an Education Department ruling that Navient must repay the government $22 million in overcharged student loan subsidies.
In response to Warren's questioning on investigations into Navient, Remondi said his job is "obviously to comply with the rules and laws, and we work hard to make sure all borrowers successfully manage their loans."
"These allegations are not true," Remondi said. "They're accusations and not necessarily based on facts," he added.
Also testifying at the hearing were Rep. Ayanna Pressley of Massachusetts, Maura Healey, the attorney general of Massachusetts, and James Steeley, president and CEO of the Pennsylvania Higher Education Assistance Agency.
Elizabeth Warren is holding her first hearing on student debt cancelation. Here's what to expect.
Ayelet Sheffey
5-6 minutes
- Massachusetts Sen. Elizabeth Warren is holding her first hearing on student debt cancelation on Tuesday.
- Witnesses include Rep. Ayanna Pressley of Massachusetts, who defaulted on her own student loans.
- Warren will also question student loan servicer Navient's CEO on investigations regarding misleading borrowers.
- See more stories on Insider's business page.
On Tuesday, 11 witnesses, including Rep. Ayanna Pressley of Massachusetts and the CEO of student-loan servicer Navient, John Remondi, will testify at a hearing on the burden of the $1.7 trillion student debt crisis in the country. This will be Warren's first official hearing on the topic, and it will likely amplify her previous calls on President Joe Biden to cancel $50,000 in student debt per person using his executive powers.
Pressley, who joined Warren in February to reintroduce a resolution to cancel $50,000 in student debt per person, said in a testimony published ahead of the hearing that she knows "what it feels like to wake up in a cold sweat over a student loan in default," and in a matter of months, she said, the pause on federal student loan payments will be lifted, and many people, disproportionately people of color, will bear the burden of these payments.
"So, as we work to ensure an equitable and prompt recovery to the current economic crisis, we can't afford to make the same mistakes of the past. We must be intentional and precise," Pressley said. "And student debt cancellation is an efficient and effective way to provide families across this nation with economic relief and opportunity."
Remondi is another notable witness attending the hearing. Navient is one of the nation's largest student loan servicers, and, according to a letter to Remondi from Warren, currently services federal loans to 5.6 million borrowers and holds over $58 billion annually in federally guaranteed Federal Family Education Loan Program (FFELP) loans.
Warren said that between 2009 and 2019, Navient has been accused or fined for "actions that ripped off borrowers," including the improper marketing of loans and failing to notify borrowers of their rights.
In addition, an ongoing Consumer Financial Protection Bureau investigation found evidence that Navient "systematically steered thousands of borrowers who were having difficulty paying their loans into plans that were worse for the borrowers – but more profitable for Navient."
In February, three student loan borrowers filed a legal action against Navient, arguing that Navient owed them over $45,000 in overpayments that the company had wrongfully collected after their student loans had been discharged. This followed an Education Department ruling that Navient must repay the government $22 million in overcharged student loan subsidies.
Remondi will likely be asked to respond to those claims during the hearing.
Also attending the hearing are Maura Healey, the attorney general of Massachusetts, and James Steeley, president and CEO of the Pennsylvania Higher Education Assistance Agency.
Insider reported on Tuesday, citing Education Department data, that canceling $50,000 in student debt per person could wipe out the entire debt burden of 84% of federal student loan borrowers.
businessinsider.com
Elizabeth Warren says the government should fire student loan servicer Navient, which should fire its CEO
Ayelet Sheffey
4-5 minutes
- Sen. Elizabeth Warren said Navient CEO John Remondi should be fired at a hearing on Tuesday.
- Navient, one of the largest student loan servicers, has been accused of misleading borrowers.
- Remondi said the allegations are untrue and "not necessarily based on facts."
- See more stories on Insider's business page.
"The federal government should absolutely fire Navient, and because this happened under your leadership, Navient should fire you," Warren told Remondi during the hearing.
Warren, as the chair of the Senate Subcommittee on Economic Policy, called 11 witnesses to testify at the hearing to discuss the impact of student debt on borrowers, racial justice, and the economy.
Warren said in her letter to Remondi inviting him to testify at the hearing that while Navient currently services federal loans to 5.6 million borrowers and holds over $58 billion annually in federally guaranteed Federal Family Education Loan Program (FFELP) loans, it also has "been a contributor to the problem, with a decade-long history of allegations of abusive and misleading practices aimed at student loan borrowers."
She added that between 2009 and 2019, Navient has been accused or fined for "actions that ripped off borrowers," including the improper marketing of loans and failing to notify borrowers of their rights.
And an ongoing Consumer Financial Protection Bureau investigation found evidence that Navient "systematically steered thousands of borrowers who were having difficulty paying their loans into plans that were worse for the borrowers — but more profitable for Navient."
In February, three student loan borrowers filed a legal action against Navient, arguing that Navient owed them over $45,000 in overpayments that the company had wrongfully collected after their student loans had been discharged. This followed an Education Department ruling that Navient must repay the government $22 million in overcharged student loan subsidies.
In response to Warren's questioning on investigations into Navient, Remondi said his job is "obviously to comply with the rules and laws, and we work hard to make sure all borrowers successfully manage their loans."
"These allegations are not true," Remondi said. "They're accusations and not necessarily based on facts," he added.
Also testifying at the hearing were Rep. Ayanna Pressley of Massachusetts, Maura Healey, the attorney general of Massachusetts, and James Steeley, president and CEO of the Pennsylvania Higher Education Assistance Agency.
businessinsider.com
Elizabeth Warren is holding her first hearing on student debt cancelation. Here's what to expect.
Ayelet Sheffey
5-6 minutes
On Tuesday, 11 witnesses, including Rep. Ayanna Pressley of Massachusetts and the CEO of student-loan servicer Navient, John Remondi, will testify at a hearing on the burden of the $1.7 trillion student debt crisis in the country. This will be Warren's first official hearing on the topic, and it will likely amplify her previous calls on President Joe Biden to cancel $50,000 in student debt per person using his executive powers.
Pressley, who joined Warren in February to reintroduce a resolution to cancel $50,000 in student debt per person, said in a testimony published ahead of the hearing that she knows "what it feels like to wake up in a cold sweat over a student loan in default," and in a matter of months, she said, the pause on federal student loan payments will be lifted, and many people, disproportionately people of color, will bear the burden of these payments.
"So, as we work to ensure an equitable and prompt recovery to the current economic crisis, we can't afford to make the same mistakes of the past. We must be intentional and precise," Pressley said. "And student debt cancellation is an efficient and effective way to provide families across this nation with economic relief and opportunity."
Remondi is another notable witness attending the hearing. Navient is one of the nation's largest student loan servicers, and, according to a letter to Remondi from Warren, currently services federal loans to 5.6 million borrowers and holds over $58 billion annually in federally guaranteed Federal Family Education Loan Program (FFELP) loans.
Warren said that between 2009 and 2019, Navient has been accused or fined for "actions that ripped off borrowers," including the improper marketing of loans and failing to notify borrowers of their rights.
In addition, an ongoing Consumer Financial Protection Bureau investigation found evidence that Navient "systematically steered thousands of borrowers who were having difficulty paying their loans into plans that were worse for the borrowers – but more profitable for Navient."
In February, three student loan borrowers filed a legal action against Navient, arguing that Navient owed them over $45,000 in overpayments that the company had wrongfully collected after their student loans had been discharged. This followed an Education Department ruling that Navient must repay the government $22 million in overcharged student loan subsidies.
Remondi will likely be asked to respond to those claims during the hearing.
Also attending the hearing are Maura Healey, the attorney general of Massachusetts, and James Steeley, president and CEO of the Pennsylvania Higher Education Assistance Agency.
Insider reported on Tuesday, citing Education Department data, that canceling $50,000 in student debt per person could wipe out the entire debt burden of 84% of federal student loan borrowers.
businessinsider.com
Elizabeth Warren says the government should fire student loan servicer Navient, which should fire its CEO
Ayelet Sheffey
4-5 minutes
"The federal government should absolutely fire Navient, and because this happened under your leadership, Navient should fire you," Warren told Remondi during the hearing.
Warren, as the chair of the Senate Subcommittee on Economic Policy, called 11 witnesses to testify at the hearing to discuss the impact of student debt on borrowers, racial justice, and the economy.
Warren said in her letter to Remondi inviting him to testify at the hearing that while Navient currently services federal loans to 5.6 million borrowers and holds over $58 billion annually in federally guaranteed Federal Family Education Loan Program (FFELP) loans, it also has "been a contributor to the problem, with a decade-long history of allegations of abusive and misleading practices aimed at student loan borrowers."
She added that between 2009 and 2019, Navient has been accused or fined for "actions that ripped off borrowers," including the improper marketing of loans and failing to notify borrowers of their rights.
And an ongoing Consumer Financial Protection Bureau investigation found evidence that Navient "systematically steered thousands of borrowers who were having difficulty paying their loans into plans that were worse for the borrowers — but more profitable for Navient."
In February, three student loan borrowers filed a legal action against Navient, arguing that Navient owed them over $45,000 in overpayments that the company had wrongfully collected after their student loans had been discharged. This followed an Education Department ruling that Navient must repay the government $22 million in overcharged student loan subsidies.
In response to Warren's questioning on investigations into Navient, Remondi said his job is "obviously to comply with the rules and laws, and we work hard to make sure all borrowers successfully manage their loans."
"These allegations are not true," Remondi said. "They're accusations and not necessarily based on facts," he added.
Also testifying at the hearing were Rep. Ayanna Pressley of Massachusetts, Maura Healey, the attorney general of Massachusetts, and James Steeley, president and CEO of the Pennsylvania Higher Education Assistance Agency.
Elizabeth Warren is holding her first hearing on student debt cancelation. Here's what to expect.
Ayelet Sheffey
5-6 minutes
- Massachusetts Sen. Elizabeth Warren is holding her first hearing on student debt cancelation on Tuesday.
- Witnesses include Rep. Ayanna Pressley of Massachusetts, who defaulted on her own student loans.
- Warren will also question student loan servicer Navient's CEO on investigations regarding misleading borrowers.
- See more stories on Insider's business page.
On Tuesday, 11 witnesses, including Rep. Ayanna Pressley of Massachusetts and the CEO of student-loan servicer Navient, John Remondi, will testify at a hearing on the burden of the $1.7 trillion student debt crisis in the country. This will be Warren's first official hearing on the topic, and it will likely amplify her previous calls on President Joe Biden to cancel $50,000 in student debt per person using his executive powers.
Pressley, who joined Warren in February to reintroduce a resolution to cancel $50,000 in student debt per person, said in a testimony published ahead of the hearing that she knows "what it feels like to wake up in a cold sweat over a student loan in default," and in a matter of months, she said, the pause on federal student loan payments will be lifted, and many people, disproportionately people of color, will bear the burden of these payments.
"So, as we work to ensure an equitable and prompt recovery to the current economic crisis, we can't afford to make the same mistakes of the past. We must be intentional and precise," Pressley said. "And student debt cancellation is an efficient and effective way to provide families across this nation with economic relief and opportunity."
Remondi is another notable witness attending the hearing. Navient is one of the nation's largest student loan servicers, and, according to a letter to Remondi from Warren, currently services federal loans to 5.6 million borrowers and holds over $58 billion annually in federally guaranteed Federal Family Education Loan Program (FFELP) loans.
Warren said that between 2009 and 2019, Navient has been accused or fined for "actions that ripped off borrowers," including the improper marketing of loans and failing to notify borrowers of their rights.
In addition, an ongoing Consumer Financial Protection Bureau investigation found evidence that Navient "systematically steered thousands of borrowers who were having difficulty paying their loans into plans that were worse for the borrowers – but more profitable for Navient."
In February, three student loan borrowers filed a legal action against Navient, arguing that Navient owed them over $45,000 in overpayments that the company had wrongfully collected after their student loans had been discharged. This followed an Education Department ruling that Navient must repay the government $22 million in overcharged student loan subsidies.
Remondi will likely be asked to respond to those claims during the hearing.
Also attending the hearing are Maura Healey, the attorney general of Massachusetts, and James Steeley, president and CEO of the Pennsylvania Higher Education Assistance Agency.
Insider reported on Tuesday, citing Education Department data, that canceling $50,000 in student debt per person could wipe out the entire debt burden of 84% of federal student loan borrowers.
businessinsider.com
Elizabeth Warren says the government should fire student loan servicer Navient, which should fire its CEO
Ayelet Sheffey
4-5 minutes
- Sen. Elizabeth Warren said Navient CEO John Remondi should be fired at a hearing on Tuesday.
- Navient, one of the largest student loan servicers, has been accused of misleading borrowers.
- Remondi said the allegations are untrue and "not necessarily based on facts."
- See more stories on Insider's business page.
"The federal government should absolutely fire Navient, and because this happened under your leadership, Navient should fire you," Warren told Remondi during the hearing.
Warren, as the chair of the Senate Subcommittee on Economic Policy, called 11 witnesses to testify at the hearing to discuss the impact of student debt on borrowers, racial justice, and the economy.
Warren said in her letter to Remondi inviting him to testify at the hearing that while Navient currently services federal loans to 5.6 million borrowers and holds over $58 billion annually in federally guaranteed Federal Family Education Loan Program (FFELP) loans, it also has "been a contributor to the problem, with a decade-long history of allegations of abusive and misleading practices aimed at student loan borrowers."
She added that between 2009 and 2019, Navient has been accused or fined for "actions that ripped off borrowers," including the improper marketing of loans and failing to notify borrowers of their rights.
And an ongoing Consumer Financial Protection Bureau investigation found evidence that Navient "systematically steered thousands of borrowers who were having difficulty paying their loans into plans that were worse for the borrowers — but more profitable for Navient."
In February, three student loan borrowers filed a legal action against Navient, arguing that Navient owed them over $45,000 in overpayments that the company had wrongfully collected after their student loans had been discharged. This followed an Education Department ruling that Navient must repay the government $22 million in overcharged student loan subsidies.
In response to Warren's questioning on investigations into Navient, Remondi said his job is "obviously to comply with the rules and laws, and we work hard to make sure all borrowers successfully manage their loans."
"These allegations are not true," Remondi said. "They're accusations and not necessarily based on facts," he added.
Also testifying at the hearing were Rep. Ayanna Pressley of Massachusetts, Maura Healey, the attorney general of Massachusetts, and James Steeley, president and CEO of the Pennsylvania Higher Education Assistance Agency.