If Corporations are People…
If corporations are people, then we need to ask what kind of people they are and whether we, as a society, want to continue to incentivize their more nefarious aspects.
So what kind of people are private student loan lenders? Deeply disturbed people. Psychopaths. Mobsters who want to corner the market so that you have no choice but to borrow money from them and then come after you with a metaphorical baseball bat when you can’t pay your debt.
These lenders lack empathy and have no conscience. They delight in your failure because when you default on your student loans, they can add late fees and compound your interest and ensure that by the time you can pay, you will owe thousands – sometimes tens of thousands – of dollars more than you originally borrowed. (Note – this goes for government loans too).
And those in the government who continue to support them? Those are the corrupt policemen who take kickbacks in exchange for their support.
See, the problem with calling corporations people is that they can’t be punished like people. No one is going to put Sallie Mae or Citibank in jail. No one is going to give them a psychological evaluation and deem them unfit for human society. No one is going to pump them full of psychiatric drugs so that they can function at a normal level and stop hurting others.
And when it’s not just a few corrupt people but a large swath of your government that is in collusion with them, how do you fight back? I have some ideas that I will post about soon, but, in the meantime – what are your ideas?