4 ms·

That doesn’t make sense. The plan was to pay the claims but to pay them using one bankruptcy court process, which is more streamlined and has no punitive damag

That doesn’t make sense. The plan was to pay the claims but to pay them using one bankruptcy court process, which is more streamlined and has no punitive damages, rather than many separate tort processes. How does that translate to student loans?

throwaway5959 4y ago
I incorporate myself before I become a student loan borrower.
- bradleyjg 4y ago
  Still makes no sense. You might as well have said “imagine a beowulf cluster of these” or something about Natalie Portman and hot grits.
  - semiquaver 4y ago
    frist post
    - TedDoesntTalk 4y ago
      Nah man I was frist
  - throwaway5959 4y ago
    Great reply, thanks.
- chii 4y ago
  Then the loans would be a much higher interest rate loan, and since the incorporated "student" does not have collateral to secure said loan against, i very much doubt that anyone would lend the money in the first place. Unless the gov't puts in a special guarantee to make the lender whole - aka, the current system. Aka, you cannot bankrupt yourself out of the loan.
sangnoir 4y ago
> How does that translate to student loans? Imagine a world where natural people could get a new alt identity (SSN and name) on demand and transfer some assets/debt to these identifies. I imagine those with student loans they are unwilling/unable to pay off might do transfer the debt to a freshly minted identity and have the doppelganger take the heat while leaving their core identity with a clean credit record and assets (car and house)
- bradleyjg 4y ago
  If you had read the case, or even just my comment, you’d see that J&J is not trying to get out of paying. They wrote the “badco” subsidiary a $60+ billion funding guarantee. That was the maximum liability of “oldco.” This analogy is just terrible. I get people want to go to fancy private schools and then not pay, but that’s no reason to shit up entirely unrelated threads.
- jstarfish 4y ago
  You've just described synthetic identity fraud.

throwaway5959 4y ago

I incorporate myself before I become a student loan borrower.

bradleyjg 4y ago
Still makes no sense. You might as well have said “imagine a beowulf cluster of these” or something about Natalie Portman and hot grits.
- semiquaver 4y ago
  frist post
  - TedDoesntTalk 4y ago
    Nah man I was frist
- throwaway5959 4y ago
  Great reply, thanks.
chii 4y ago
Then the loans would be a much higher interest rate loan, and since the incorporated "student" does not have collateral to secure said loan against, i very much doubt that anyone would lend the money in the first place. Unless the gov't puts in a special guarantee to make the lender whole - aka, the current system. Aka, you cannot bankrupt yourself out of the loan.

sangnoir 4y ago

> How does that translate to student loans? Imagine a world where natural people could get a new alt identity (SSN and name) on demand and transfer some assets/debt to these identifies. I imagine those with student loans they are unwilling/unable to pay off might do transfer the debt to a freshly minted identity and have the doppelganger take the heat while leaving their core identity with a clean credit record and assets (car and house)

bradleyjg 4y ago
If you had read the case, or even just my comment, you’d see that J&J is not trying to get out of paying. They wrote the “badco” subsidiary a $60+ billion funding guarantee. That was the maximum liability of “oldco.” This analogy is just terrible. I get people want to go to fancy private schools and then not pay, but that’s no reason to shit up entirely unrelated threads.
jstarfish 4y ago
You've just described synthetic identity fraud.