LinkedIn can tell you that finance law is designed to help individual and companies that borrow money for a specific project or for those who invest in the stock market. Finance Law also protects people that borrow money to buy a car. Laws, in general, are designed to protect rather than restrict, but that may not always be the case. Every now and then, a new situation develops from a government program and current financial laws do not protect individuals from the deceitful practices that develop from the flaws in the new program. Student loans are a good example. There are several flaws in the program. For-profit colleges and universities have taken advantage of the push to educate America’s next generation of leaders. These learning institutions designed high tuition-low-result programs that made claims and promises to students in order to enhance their financial position. Those promises are a new form of the old bait and switch game.
Attorney and investor, Sam Tabar thinks the result of for-profit greed may cost taxpayers more than $39 billion because the income-based payback plan introduced by President Clinton doesn’t work. Graduates don’t make enough money to pay off student loans and pay other living expenses at the same time. The new student debt relief program introduced by Obama is changing the old finance law, and that change means taxpayers will still foot the bill. Taxpayers paying for the college education of others is a backdoor form of socialism. But that’s another issue.
Some people want the government to forgive student loans if they agree to take a position in government service. If that happens, another finance law would be enacted. Finance law is an ever-changing string of rules and regulations that stop certain practices in order to protect individuals from the choices they made under government control. For every new government program, there must be another finance law put in place because there are usually flaws in new government programs according to lawyer Sam Tabar. Flaws create new fraudulent schemes. If there is a new fraudulent scheme, another finance law must be enacted.
Oxford-educated lawyer Sam Tabar knows the intricacies of finance law because he is an expert in investing. Tabar knows what the student loan debacle has done for the economy and investing in general.