Page 290 - Beers With Our Founding Fathers

Beers with our Founding Fathers

forfeited. At that time the bail bond agent would collect from the

collateral or arrest and bring the defendant in to revoke the bond
and protect the investment. If the bail bond agent failed, the

insurance would pay the court. This is capitalism – people or banks
take risks in making loans, and in the student loan program that risk

was protected by the government (for the bail bond agent, it was
their insurance). That changed in 2012 when the student loan

program became only government funded. Immediately investment
money from the lending institutions was taken out of the economic

pond and the government began loaning taxpayer money. These
monies are not yet collected (or yet borrowed) or budgeted for

because there is not a budget (none submitted since 2009, under
the current administration). A default does not really matter

because taxpayer money is no longer at risk – the money was gone
and the risked produced (versus guaranteed) when taxpayer money

was loaned by the government. Because the government is non-
profit, it will not begin to collect payments and interest on these

loans for five years. To further this analogy, in many judicial
jurisdictions the courts are now also fully assuming the services of

the private bail bond agent. However, they only collect 10%, often
no collateral and are facing budget crises due exacerbated by the

increased costs of collections on forfeited uncollateralized bonds.
No government is a for-profit business and no government has

intended to be in business. Doing so serves only to stifle and flatline

an economy and confiscates a private economic enterprise.
However, because the economy is flat-lined now, and it takes at
least two years to recover for every year of flat-line, it is unlikely that

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