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Home The Blog QE4: Forgive Student Debt

QE4: Forgive Student Debt

Ethical Markets October 24, 2011 Reforming Global Finance, Community Development Solutions

We fully support this proposal by lawyer  Ellen Brown, our esteemed Advisory Board member . We would add that GDP  must also be corrected so that at last, “Education” is no longer categorized under “Consumption” , but acknowledged as the basic investment all societies make in  their future, and included in a Asset Account  for this and all other public investments in vital infrastructure and public assets , long recommended by many experts. “  Hazel Henderson, Editor

Among the demands of the Wall Street protesters is student debt forgiveness–a debt “jubilee.” Occupy Philly has a “Student Loan Jubilee Working Group,” and other groups are studying the issue.   Commentators say debt forgiveness is impossible.   Who would foot the bill?   But there is one deep pocket that could pull it off–the Federal Reserve.   In its first quantitative easing program (QE1), the Fed removed $1.3 trillion in toxic assets from the books of Wall Street banks.   For QE4, it could remove $1 trillion in toxic debt from the backs of millions of students.  Read more…

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