‘Terrible consequences’ if student loans forgiven, Michael Burry warns

Hedge fund boss Michael Burry is warning of “terrible consequences” for the US if the Biden administration’s student loan debt forgiveness plan is upheld.

Burry, whose successful bet against subprime mortgages were famously chronicled in the 2015 film “The Big Short,” delivered the dire forecast as the Supreme Court hears arguments this week on whether President Biden has the authority to cancel student debt.