February 07, 2008


Sallie Mae has been in the headlines a lot lately. Maybe that's why it didn't bother announcing that its top lawyer resigned last week. General counsel Robert Lavet stepped down Jan. 31 after 16 years at the student loan consolidator formally known as SLM Corp. Lavet's resignation came three days after Sallie Mae settled a suit against a buyout group that abandoned a $25.3 billion bid for the company. Both Lavet and a Sallie Mae spokesman say the GC's resignation had nothing to do with the settlement.

Comments on the recent Sally Mae fiasco taken off Daily KOS item:

This place has simply gone bonkers during the primaries, and most Kossacks just aren't paying that much attention to real issues, unfortunately. These seem to believe that all problems will be solved by their candidate. Unfortunately, it is going to be the other way around - the economic and financial problems are going to force the next President to either be great, or be another Hoover/Bush. Many financial markets, excepting stocks and formal futures exchanges, have simply ceased functioning, and an estimated $2 trillion to $4 trillion in credit capacity has disappeared. That means the economy is probably going to shrink around ten percent over the next few years, unless Bernanke succeeds in igniting hyperinflation, which is basically what he seems to be doing at this point. You can imagine the level of pain coming our way, and the political turmoil that comes with it. So, be prepared to grab many opportunities in the political area that do not exist right now.

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