My point is that the shock to the banks/universities would be catastrophic if all that debt was canceled.
They'd have all this money loaned out to people and all the sudden it's basicaly all defaulted on.
It would likely bring about an even worse system than we already have, but at least it would throw the banks into chaos for awhile lol
Universities don't loan out money. They would never be defaulted on.
Yeah but they'd lose most, if not all, of their students. A lot of the universities would have to shut down because students wouldn't be able to afford it.
Students would have to take more loans out from the banks that just went bankrupt lol
Though what would likely happen instead is Sander's would cancel the $1.6 trillion and then just divert it all to the banks and corps as a bailout.
The banks would not go bankrupt. The government would be paying. They would not loose any students. The students would say "cool, I owe less money, thanks government" and then continue going to class.
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