Thursday, August 02, 2007

Dems Knock DoE for Lax Loan Oversight

According to the GAO ,the Dept. of Ed still has no procedures in place to determine which lenders engage in improper inducements, nor does it disseminate good information for consumers about lenders that have been flagged for abuses.

I'm interested to see this study get play in the New York Times, but the information in it is noways surprising. The system is corrupt, people! Abuse is endemic& inherent. Asking the Dept of Ed to police what Congress implicitly sanctions implies a kind of right-hand-doesn't-know-what-the-left-is-doing blindness.

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