Stupid Editorial Headline of the Week

Goes to Arne Duncan, Secretary of Education, for this doozy:

Banks Don't Belong in the Student Loan Business

Because it turns out that the government would be so much more efficient at this task. For reals, that's his argument, because banks make a profit, the government could perform the role cheaper. Then he turns around and states that the government will outsource the servicing of loans anyway.

Along the way he distorts the fact that colleges switched to direct loans from the feds under extreme arm twisting from the Department of Education.