What Wall Street and credit card companies are doing is really not much different from what gangsters and loan sharks do who make predatory loans. While the bankers wear three-piece suits and don't break the knee caps of those who can't pay back, they still are destroying people's lives.
How can the United States be competitive globally if higher education is unaffordable? Germany, Austria, Denmark, Finland, Norway, Scotland and Sweden have no tuition for college. Other countries have low tuition. We need the best educated workforce in the world. Instead of spending endless amounts on the military, we need to invest in our young people.
In Germany, college tuition is free. In America, college tuition is increasingly unaffordable. In a highly competitive global economy, which country do you think will have the best educated work force and a competitive advantage? We must make tuition free in public colleges and universities and substantially reduce interest rates on student loans.
Most people that I know don believe that a handful of corporations request sit together without disclosure, by the way, and pump hundreds and hundreds of millions of dollars into the political process. That is not the democracy that many of us believe America should be.
Fifty years ago, great schools like the University of California and the City University of New York - as well as many state colleges - were tuition free. Today college is unaffordable for many working class families. For the sake of our economy and millions of Americans, we must make higher education more affordable.