Found this article. Anyone think Salliemae is a buy? 12 month high is $58. Last I checked people have not stopped going to college, which means that there are going to continue to be loans. If they get someone who isn’t trying to cook the books and get back to basics, this could be a good long term hold.

AP
Sallie Mae Names Terracciano Chairman
Monday January 7, 3:44 pm ET
By Dan Caterinicchia, AP Business Writer 
Sallie Mae Names Anthony P. Terracciano Chairman, Albert Lord Named Vice-Chairman, CEO
WASHINGTON (AP) — Battered in recent months because of a failed buyout and higher borrowing costs, shares of Sallie Mae rose more than 10 percent Monday after the company named a banking industry turnaround specialist as its new chairman.
 
Analysts are not convinced, however, that new blood on its board is enough to resuscitate the nation’s largest student lender. Sallie Mae’s new chairman is Anthony P. Terracciano, who has been known as “Tony the Tiger” for his experience advising troubled banks and working on sales of some of them. The 68-year-old previously has served as president of First Union Corp., now Wachovia Corp., chairman and CEO of First Fidelity Bank Corp., president and chief operating officer of Mellon Bank, vice chairman of Chase Manhattan Bank, and non-executive chairman of both The Dime Bank and Riggs National Corp.

Former Sallie Mae Chairman Albert L. Lord, who held that title for three weeks, has been appointed vice chairman and will remain CEO. Shares of SLM added $2, or 12 percent, to $18.67 Monday afternoon, and have traded between $16.35 and $58 in the past year.

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