“Some quotes far better than Tasty Cakes, no calories, and… FILLING!”
The payday lending industry, hurt by losses in states that either refused to authorize their high-rate, short-term loans or moved to regulate finance charges, isn’t giving up without a fight. Payday lenders are out in full force in Wisconsin, where a legislative battle is underway over efforts to impose a 36 percent rate cap on payday loans, a move the industry claims will put it out of business. In my book 36% is all ready in the loan shark category. Payday lenders should be abolished and banks should be forced to offer loans to low income people. -Thom Hartmann
“Because thieves and bloody pirates should always be made to walk the plank!”
It’s incredible that our country has become so crass and fallen so far that we now legalize what used to be known as loansharking and was illegal in every state. I read somewhere that you could get a payday loan of $200 and, if you fail to pay it off completely within two weeks, you could end up owing $600 in less than two months. Yes, so far, the payday lenders can’t legally break one of your legs to get you to pay up, but I’m sure some smart young Republican politician will propose that bill soon.