Sallie Mae affirms outlook, warns of "train wreck"

Sallie Mae affirms outlook, warns of "train wreck"

news.yahoo.com

But Chief Executive Al Lord told analysts on a conference call: "We've been predicting something of a train wreck" in mid-2008 without prompt changes in a market hit by fallout from the subprime mortgage crisis and cuts last year in federal subsidies to student lenders.

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This is only getting uglier and spreading into other sectors. Where is the end to all of this?




news.yahoo.com
(visit the link for the full news article)

And I owe my soul to Sally Mae... wonder what this means?

They are the only agency outside of the IRS that can garnish things like VA disability benefits and/or Social Security benefits (disability or otherwise) and I have both. If they tank what does it mean for people like me?