Finding a loser in the Sallie Mae buyout
NYT Dealbook Psych majors down 3/8 in active trading...

This may actually be beneficial for everyone in the long run.

A friend was unable to consolidate his student loans because he found out that someone had already bought up his loans at a higher rate than he was able to get elsewhere. So, while they basically forced him to pay above-market interest (penalties discouraging him from re-financing in the meantime), they borrow at market rates and sit on the arbitrage. In short, they screwed him by buying up his loans before he could consolidate himself.

Dunno if it was First Marblehead in his case or not, but these practices don't seem to be that uncommon. Not technically illegal as far as I know, but coercive, predatory and immoral.

One can hope that with Blackstone aggressively pursuing securitization, it will be at once less predatory and more professional.

TJ - I can't edit your posts, so this goes here. You need to post or send me a link to the whole Hillary v. Milton thing, not just to the frontpage. I get the feeling my Dad would get a kick out of it.

P- Fixed the link and re-set your permissions. And yea, it's pretty funny.