Ask the Scholar
Page 21 of 52
I can add historical knowledge about this page.
Page image
OCR
with counterproductive destabilizing effects beyond those
caused by its potential impact on Sallie Mae.
As described above, an independent market
analyst has concluded that, if enacted, the Act could
have a devastating effect upon both Sallie Mae's earnings
and the value of its outstanding privately owned shares.
Shareholders have reacted with alarm to the unanticipated
adverse impact on their investments that would be caused
by passage of the bill.
The adverse economic consequences to Sallie Mae
of the Act are exacerbated by the fact that the corpora-
tion has no authority to participate in other businesses
or otherwise escape from the burdensome provisions. For
example, although the "offset fee" may have been struc-
tured ostensibly as an "offset" of the presumed benefits
of Sallie Mae's status as a GSE, Sallie Mae is not able
to decline any such benefits by relinquishing that status
in order to avoid the burden of the fee, the amount of
which is totally arbitrary.
If enacted, the Act would literally hold Sallie
Mae hostage, subjecting the statute to constitutional
challenge as a bill of attainder as well as an impermis-
sible taking without just compensation. The United
States Constitution prohibits any legislation that
16
Page data
- Page
- 21
- Source index
- 0
- Type
- photo
- Media ID
- d5c5c34ed8e37269
- Size
- unknown
Document data
- ID
- 122244896
- Core
- doc
- Type
- document
DTO data
{
"id": "122244896",
"sourceUrl": "https://catalog.archives.gov/id/122244896",
"contentType": "document",
"title": "Student Loan Reform Act of 1993 [1]",
"citationUrl": "https://catalog.archives.gov/id/122244896",
"collections": [
"Records of the Office of the Counsel to the President (Clinton Administration)",
"Cliff Sloan's Files"
],
"iiifBase": "https://s3.us-east-1.amazonaws.com/NARAprodstorage/lz/presidential-libraries/clinton/7409214/42-t-7409214-20171072F-001-006-2018-001.JPG",
"thumbnailUrl": "https://s3.us-east-1.amazonaws.com/NARAprodstorage/lz/presidential-libraries/clinton/7409214/42-t-7409214-20171072F-001-006-2018-001.JPG",
"largeImageUrl": "https://s3.us-east-1.amazonaws.com/NARAprodstorage/lz/presidential-libraries/clinton/7409214/42-t-7409214-20171072F-001-006-2018-001.JPG",
"imageCount": 52,
"hasImages": true,
"source": "import",
"hasTranscription": false
}
Context sent to Scholar
Document identity
{
"localId": "122244896",
"label": "Student Loan Reform Act of 1993 [1]",
"core": "doc",
"dtoType": "document",
"citationUrl": "https://catalog.archives.gov/id/122244896"
}
Document source metadata
{
"id": "122244896",
"sourceUrl": "https://catalog.archives.gov/id/122244896",
"contentType": "document",
"title": "Student Loan Reform Act of 1993 [1]",
"citationUrl": "https://catalog.archives.gov/id/122244896",
"collections": [
"Records of the Office of the Counsel to the President (Clinton Administration)",
"Cliff Sloan's Files"
],
"iiifBase": "https://s3.us-east-1.amazonaws.com/NARAprodstorage/lz/presidential-libraries/clinton/7409214/42-t-7409214-20171072F-001-006-2018-001.JPG",
"thumbnailUrl": "https://s3.us-east-1.amazonaws.com/NARAprodstorage/lz/presidential-libraries/clinton/7409214/42-t-7409214-20171072F-001-006-2018-001.JPG",
"largeImageUrl": "https://s3.us-east-1.amazonaws.com/NARAprodstorage/lz/presidential-libraries/clinton/7409214/42-t-7409214-20171072F-001-006-2018-001.JPG",
"imageCount": 52,
"hasImages": true,
"source": "import",
"hasTranscription": false
}
Document source extras
{
"url": "https://catalog.archives.gov/id/122244896",
"naId": 122244896,
"levelOfDescription": "fileUnit",
"otherTitles": [
"42-t-7409214-20171072F-001-006-2018"
],
"recordType": "description",
"ocrSource": "nara-archive"
}
Page context
{
"seq": 21,
"pageIndex": 0,
"type": "photo",
"url": "https://s3.us-east-1.amazonaws.com/NARAprodstorage/lz/presidential-libraries/clinton/7409214/42-t-7409214-20171072F-001-006-2018-021.JPG",
"mediaId": "d5c5c34ed8e37269",
"ocrText": "with counterproductive destabilizing effects beyond those\ncaused by its potential impact on Sallie Mae.\nAs described above, an independent market\nanalyst has concluded that, if enacted, the Act could\nhave a devastating effect upon both Sallie Mae's earnings\nand the value of its outstanding privately owned shares.\nShareholders have reacted with alarm to the unanticipated\nadverse impact on their investments that would be caused\nby passage of the bill.\nThe adverse economic consequences to Sallie Mae\nof the Act are exacerbated by the fact that the corpora-\ntion has no authority to participate in other businesses\nor otherwise escape from the burdensome provisions. For\nexample, although the \"offset fee\" may have been struc-\ntured ostensibly as an \"offset\" of the presumed benefits\nof Sallie Mae's status as a GSE, Sallie Mae is not able\nto decline any such benefits by relinquishing that status\nin order to avoid the burden of the fee, the amount of\nwhich is totally arbitrary.\nIf enacted, the Act would literally hold Sallie\nMae hostage, subjecting the statute to constitutional\nchallenge as a bill of attainder as well as an impermis-\nsible taking without just compensation. The United\nStates Constitution prohibits any legislation that\n16"
}