Nathan Kottke for president

Nathan Kottke for president


To the Editor:

Dear Mr. Bernanke and Mr. Paulson:

My student loans are too big and it is hurting the economy. Can I have a bailout, please? I need $92,000.


Nathan Kottke
St. Paul, Sept. 17, 2008

(Hat tip: Matt Yglesias)

… I should note that, while the above is obviously a bitter joke, here’s the thing. Financial industry lobbyists are hitting the halls of the Capitol Building hard this week "to ensure as many institutions as possible benefit" from the administration’s $700 billion bailout plan. Bloomberg reports that already, a language tweak in guidance from the Treasury Department to Congress suggests that "instruments such as car and student loans, credit-card debt and any other troubled asset" could be included, raising the total cost of the plan significantly. Maybe Kottke’s little joke isn’t so far-fetched after all.