Amy Goodman
@DemocracyNow·3.2M subscribers·19.4K videos
Joe Biden for President? Media Buzz Ignores How Veep Worsened Student Debt on Big Banks' Behalf
Posted
October 20, 2015
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8:19Now PlayingWashington is abuzz with rumors Vice President Joe Biden will soon enter the race for the Democratic presidential nomination. While a new campaign would seek to capitalize on Biden’s two terms as vice president, it would also invite scrutiny of his Senate record in a Democratic political climate notably more progressive today than it was when Biden last sought the nomination. Biden’s 1994 crime bill, while implementing sweeping gun control, also helped fuel mass incarceration with financial incentives to keep people behind bars. Biden is also known for close ties to the financial industry, notably helping push through a 2005 bill that made it harder for consumers to declare bankruptcy. According to The New York Times, the credit card issuer MBNA was Biden’s top donor from 1989 to 2010. Now, as speculation over Biden’s presidential aspirations reaches a fever pitch, the Obama administration is seeking to repeal one of his key legislative achievements. The White House wants to undo a provision in the 2005 bankruptcy law that made it harder to reduce student debt, preventing most Americans from claiming bankruptcy protections for private student loans. The administration’s effort follows the publication last month of an International Business Times exposé by David Sirota, "Joe Biden Backed Bills to Make It Harder for Americans to Reduce Their Student Debt." Sirota discusses Biden’s role in passing the legislation.
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