John Boehner for GOP Majority Leader? Can you say “back pocket of special interests”?

Oh yeah, he’s going to be a big change from Tom Delay:

From the Chronicle of Higher Education
January 13, 2006

With Rep. John A. Boehner a leading candidate to be the next majority leader in the U.S. House of Representatives, the Ohio Republican’s ties to Sallie Mae are coming under scrutiny by the news media and some lawmakers.

The nation’s largest student-loan provider has been one of the top contributors to the campaign war chest of Mr. Boehner, who as chairman of the House Committee on Education and the Workforce has been shepherding through Congress student-loan legislation that will affect the company’s bottom line.

According to Federal Election Commission records, Sallie Mae officials contributed more than $100,000, both individually and through political-action committees, to Mr. Boehner during the 2003-4 election cycle — a time in which he was drafting legislation to reauthorize the Higher Education Act, the law that governs most federal student-aid programs. That total is equal to about 40 percent of the $259,000 that the student-loan industry as a whole donated to the congressman during that period of time.

On several occasions, Mr. Boehner has been a guest of Albert L. Lord, Sallie Mae’s chief executive officer, on the corporate jet, primarily for golf outings in Florida. The company also helped sponsor a party that Mr. Boehner threw in New York at the 2004 Republican National Convention.

In addition, Mr. Boehner’s daughter, Tricia, works for General Revenue Corporation, a loan-collection company owned by Sallie Mae…..

Paying a Higher Price for Education
By Dan Auld
San Diego Business Journal
January 6, 2006

Congressman John Boehner told a gathering of bankers in December that he had some “tricks up my sleeve to protect you,” during a debate over student loans.

Late last year, the rabbit came out of the hat. At 3 a.m. on Dec. 19, the House of Representatives passed the single most anti-competitive, anti-consumer law in America today.

They outlawed the refinancing of student loans.

Sallie Mae’s sweet romance with Rep. John Boehner
By Froma Harrop
Providence (Rhode Island) Journal
Wednesday, January 11, 2006

But actually, they more than made up for that setback with fine-print changes that will let lenders rake in more money than ever.

For example, Boehner’s legislation gives banks the power to stop certain borrowers
from leaving their clutches and entering a federal program for people who can’t earn enough money to pay off their loans. (The banks make money whether their captives pay or default.)

Follow me on Twitter: @aravosis | @americablog | @americabloggay | Facebook | Instagram | Google+ | LinkedIn. John Aravosis is the Executive Editor of AMERICAblog, which he founded in 2004. He has a joint law degree (JD) and masters in Foreign Service from Georgetown; and has worked in the US Senate, World Bank, Children's Defense Fund, the United Nations Development Programme, and as a stringer for the Economist. He is a frequent TV pundit, having appeared on the O'Reilly Factor, Hardball, World News Tonight, Nightline, AM Joy & Reliable Sources, among others. John lives in Washington, DC. .

Share This Post

© 2019 AMERICAblog Media, LLC. All rights reserved. · Entries RSS