Crash! Sallie Mae and the President's Budget

Here's a great example of the wisdom of Our Hero:

...Finally for investors in rent-seeking organizations there is the real risk that the politicians will change the rules. Heed the words of Sen. Simon Cameron (R&D!-Pa.):

"The honest politician is one who when he is bought,
will stay bought."

The stock was recently down 34% at $5.53 after trading as low as $4.72.
From the Washington Business Journal:

SLM CORP. lost more than 40 percent of its market value Thursday on concern the government would end subsidies to student loan providers.

Reston-based Sallie Mae, a private student loan provider, issues loans that are currently guaranteed by the federal government. President Barack Obama’s budget plan would end those guarantees and instead shift federally backed student loans directly to the government....MORE