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Friday, March 5, 2010

The cautionary tale of the student loan industry

The student loan industry will soon be dead. Other subsidy sucklers should learn a lesson here. My column teaches the lesson:
But this nationalization should serve as a cautionary tale for others — such as health insurers and the tourism industry — looking to latch onto Leviathan’s teat.

For a business, getting in bed with Uncle Sam is like marrying Henry VIII — you may reap benefits you never could have gotten on your own, but history suggests the affair won’t end well for you.

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