chopra thank you for being here as well. you have forked directly with a lot of student loan borrowers and your reports have talked about some of macroeconomic consequences but let me ask you have you encountered a lot of stories like this? >> one of the top issues that are worse identifies difficulties repaying restructuring and rolling and loan modification programs and staying current. >> our services are not reaching out and helping young people or even adults learning what their options are today? >> we learned a very painful lesson in the years around the financial crisis in the mortgage servicing market. there are fundamental incentive misalignments where what may be good for the loan owner or the investor and good for the borrower is not actually the outcome and market forces do to market structure finance can often cause terrible outcomes for everybody. >> i've heard from a lot of people today who are paying back loans that they don't know how much they owe. they are having trouble getting that information. they don

chopra and dr. vedder in terms of the information information, you have some concerns about the grading system and i do too. but in terms of providing students and parents with information earlier in their lives so they can make decisions, what more can we do at the federal level, using the leverage of the investment we make? >> well, one of the things that we have noted is that it's also very difficult to even compute what the cost, true cost of college is for many families. not only do tuitions change from year to year, but also it's a challenge to protect what your monthly payment will be when you take on a certain amount of debt this year. so just like we saw in the mortgage market where interest rates might reset or conditions change, people really are rolling the dice. they've created a lot of tools to assist with this but there could be more that should be done. >> time of the gentleman expired. our chair has come back and senator king, you're up. >> thank you were senator widen. very good te

welcome the kaiser report i-max kaiser in the words of the great philosopher jones chopra's who was of course an inspiration for the french revolution in truth laws are always a useful to those with possessions and harmful to those who have nothing from which it follows that the social state is advantageous to men only when all possess something and none has too much end quote today we're going to look at some of the headlines from a very unsocial state can revolution be far behind and we mention revolution stacy i think you've got include also brant russell brand is the revolutionary he's a man of the revolution russell welcome because report very grateful that you have me here on the kaiser for your program thank you very much i think he absolutely say see what is actually.

chopra i know these economic consequences are what you and others in the consumer financial protection bureau have called the domino effect and i'm looking forward to hearing more details in your testimony about those negative economic impacts. to address these challenges as a starting point we need to ensure that student loan servicers, those are the companies that handle the billing to track borrowers payments are treating borrowers fairly and responsibly unfortunately there have been reports of student loan servicers mistreating borrowers. some people have discovered their loan servers or hasn't properly process payments and complains that student lenders have for borrowers into default if a cosigner dies despite the barro being current on their loan payments. i was very troubled to hear recent reports that sallie mae was overcharging military members on their student loans. sallie mae has agreed to pay nearly $100 million in fines after charging military members higher interest rates and i've asked secretary arne duncan to investigate to make sure other student loan servicing compa

because a report i'm max kaiser in the words of the great philosopher zoners chopra's who was of course an inspiration for the french revolution in truth the laws are always useful to those with possessions and harmful to those who have nothing from which it follows that the social state is advantageous to men only when all possess something and none has too much and quote today we're going to look at some of the headlines from a very unsocial state can revolution be far behind and we mentioned revolution stacey i think you've got include russell brand russell brand is the revolutionary he's a man of the revolution russell welcome because a report very grateful that you have me here on the cars report a program thank you very much absolutely say see what is actually happening well we will respond accordingly so after five years of a financial crisis and there rising wealth and income gap as a result we're going to look at some of the headlines that we see happening around the world regarding austerity britain pushed one hundred twenty nine billion pounds deeper into the red this is now

. >> gotment that's father, deepak chop chopra, is said jackson wanted a prescription for a narcotic.ing to write a prescription. i confronted him. he started to cry. he said, you don't understand. i'm in a lot of pain. >> chop practice fear for jackson's health and with a member of michael's family, he arranged for an intervention. >> so upset, angry. the temper,ichael's family, he for an intervention. >> so upset, angry. the temper, left the room. >> according to biograh fer, randy tab bore rely, jackson was introduced to prescription drugs in 1984. jackson's scalp was severely burned during the fille.willing of this pepsi commercial. ♪ >> i was at the hospital that night and i remember the doctors saying that they were trying to give him pain medication back then answered would not take t and that ultimately, he -- he did take some because the pain was so great, but that it was a big issue. >> when do you think the drug use started? >> i believe that a lot of it had to do with the stress of the 1993 allegations. >> in 1993, crack isson was accused of sexually molesting a 13-year-ol

. >> reporter: so is deepak chopra. there is even an original campaign song from alanis morissette. ironic? no. it's just beverly hills. >> we have our own song. ♪ >> reporter: matt miller worked in the clinton white house and was a radio host of "right left of center." >> i got "the l.a. times" endorsement the other day. >> reporter: after all, the rich and famous need a voice in congress, too. >> look at a district that actually has elected for 40 years one of the most accomplished serious and unglamorous legislatures in the country like henry waxman, it puts the lie to the east coast. >> reporter: quick fact check here. henry waxman is unglamorous. true. >> people can laugh and people can make fun of. but even the people laughing to make fun know we're about very serious business. >> reporter: voters will head to the polls on june 3rd in an open primary. regardless of party, they will face off in a runoff on election day. >>> coming up next, the obama administration's big new push but even some of his fellow democrats are blasting the plan. why are they joining with republicans t

next, we have deepak chopra, who said "there are no accidents, there is only some purpose that we haven'tfirst draft. "there are no accidents. you knew that yogurt in the refrigerator was mine, carol." [ laughter and applause ] when you clearly mark a yogurt, you're upset if someone eats it. sorry to take his side, carol. our next quote is -- oh, it looks like there's more to nietzsche's first draft. "you see, it's not that i don't like the dog. i do like the dog. and i like dave. but when i climb, i like to be by myself. climb time is nietzsche time. [ laughter ] not nietzsche and rufus time. that being said, i do want to get a dog of my own someday but even if i do, i don't even think i'll take my own dog climbing." nietzsche, that's enough. we get it, nietzsche. our next quote is from thomas jefferson who said "i find that the harder i work, the more luck i seem to have." his first draft was a little less eloquent. "i find that the harder my slaves work, the more luck i seem to have." i hope you're groaning at him for having slaves. i'm sure that was it. next we have albert camus. "don

today we're going to be hearing from rohit chopra, he is the student loan ombudsman for the consumer financial protection bureau, and i'm very pleased to welcome brittany jones today. she is a recent graduate and the former president of the student virginia education association. we're also going to be hearing from richard vitter, distingu h distinguished professor of economics at ohio university. a college degree is a worthwhile investment and for many can be a ticket to the middle class. we know that on average, college graduates earn more and many lower unemployment rates than less educated peers. a highly educated workforce is also good for our country. it strengthens our middle class, it strengthens the workforce we'll need to compete in the 21st century global economy. more and more jobs of the future will require post-secondary credentials or degrees, and in fact, in the coming years, as many as 2/3 of all jobs will require at least some college education according to the center on education and workforce. but to afford college, many people have to turn to student loans to hel

today we are grit to be hearing from rohit chopra the student loan ombudsman for the consumer financialney jones today. she is a recent graduate and former president of the student virginia education association. we are also going to be hearing from richard vedder a distinguished professor of economics at ohio university. a college degree is a worthwhile investment and for many it can be a ticket to the middle class. we know that on average college graduates earn more and they tend to have lower unemployment rates than their less educated peers. a highly educated work force is also good for our country. it strengthens our middle class, it strengthens the workforce will need to compete in the 21st century global economy. more and more jobs of the future will require post-secondary credentials or degrees and in fact in the coming years as many as two-thirds of all jobs will require at least some college education according to the center on education and