Banker bashing - Megan McArdle explains the silliness of Elizabeth Warren's proposal to hold student loan rates at the same level of banks. In short, banks get very low loan rates because these loans are held for a very short time and the banks have significant collateral. College students are taking loans out over a decade or more and the collateral is a promise to repay and nothing more.
But then, despite what most of the hardcore commenters over on TPM or Daily Kos believe, this turd of a bill isn't going anywhere. Harry Reid won't even embarrass himself by bringing it up for a vote.
More - Coyote Blog: "I find it a simply astounding sign of the bizarre times we live in that a leading anti-bank progressive is working on legislative strategies to get 18-year-olds further into debt."