Saturday, January 07, 2006

Feds Want their money-Now!

Willie Haynes Jr, a 59-year-old marble cutter earning $10 an hour, was just informed that his wages will be garnisheed to pay off a $434.52 student loan from 1964.


"He's a productive part of society, and you want to beat him down? It's sickening," said Cal Lincoln, a former boss. "Leave him alone."

2 comments:

banker said...

at 5% over 40yrs that's over $3,000 in present day value. should they just take the loss? if everyone borrowed and then didn't pay back, would anyone lend?

amechad said...

Sorry, you take out a loan - you have to repay