WOW

We've been keeping an eye on all the hoopla surrounding the "preferred lender" lists that financial aid offices keep. It was kind of interesting at first. But now. Wow. This is getting wierd.

This all starts on March 16, 2007. CBS runs a story on the student loan industry and the practices surrounding preferred lender list designations from the school. CBS has it in for Sallie Mae. They've run several stories on Sallie Mae. The story highlighted Sallie Mae as well as other lenders in the student lending industry.

Never taking a whipping laying down, Sallie Mae, issues a March 20 response to the CBS piece. A noteable idea. But Sallie Mae tasked Tom Joyce to produce the response. Google around for Tom Joyce, but there's some gems out there from Mr. Joyce. According to Joyce-logic, when beat up by CBS, respond by administering a deflective beating to a competitor: MyRichUncle. Joyce doesn't stop at blasting a non-personal corporate entity. He goes a step further by blasing the CEO of MyRichUncle and stretching a link between MyRichUncle and disgraced lobbyist Jack Abramoff. Up to this point, it's been quite comical, even surreal. And even amazing that Tom Joyce is still employed by Sallie Mae.

But then on March 22, MyRichUncle issued an open response to Sallie Mae's response to the CBS piece. MyRichUncle had their work cut out for them. Their response addressed Sallie Mae's silliness, made fun of them, and questions why someone like Tom Joyce would be employed in his role.

WOW.