Matasar's Junk Bonds

In the unregulated Wild West fantasyland of the American Bar Association, you now have a dean of one of the most overpriced law schools in the nation (who has jacked up tuition 5x faster than inflation over the last 10 years) serving as the head of the Board of Directors of a private student loan financing company. Put this together with the fact that many of the bonds sold off into the ABS market by this financing operation are now going negative, and you have one fishy situation. Lucky for the investors in the FFELP trust, the American taxpayers will be on the hook for 97% of the principal and accrued interest AND PENALTIES in many of these garbage loans.

Thankfully for us, several reporters are interested in looking into this seedy situation, while the ABA sits back and promotes outsourcing and "how to get ripped off while setting up a solo practice" promotional blogs.

http://finance.yahoo.com/news/Fitch-Affirms-Access-Group-bw-809064258.html?x=0&.v=1