Posts: 1886
Threads: 33
Joined: August 25, 2015
Reputation:
27
RE: Consumer Protection Bureau - an oxymoron
February 7, 2019 at 9:28 am
"It'll ruin our business!" they say.
WELL FUCKING GOOD! It should ruin their fucking business. Those fucking cretins are worse than drug dealers.
"Tradition" is just a word people use to make themselves feel better about being an asshole.
Posts: 1169
Threads: 15
Joined: January 12, 2019
Reputation:
4
RE: Consumer Protection Bureau - an oxymoron
February 7, 2019 at 9:55 am
(February 7, 2019 at 9:28 am)Divinity Wrote: "It'll ruin our business!" they say.
WELL FUCKING GOOD! It should ruin their fucking business. Those fucking cretins are worse than drug dealers.
Yep, for most Americans, money is a drug. They've never seen a dollar that they didn't want to pour gasoline on to and set on fire. It's sad but true. These predatory lenders are are basically killing the junkies who haven't been able to score, and feeding off of their remains. What's weird is that I see high functioning people who have actually lifted themselves up to earning half way decently, who remain addicted to dealing with the predatory lenders. They keep doing business with them, when they don't have to. Payday loans are only the tip of the iceberg in the predatory lending industry. There's the used car dealers who will finance a car for anyone, the rent to own stores, and owner financed homes. I am really freaked out when I think about how much this industry has grown, that takes advantage of poor people. Even scarier is the fact that the industry is growing upward-- that is to say it started out taking advantage of the most desperate of the desperate and is working its way up to taking advantage of somewhat more affluent people. It seems destined to create a financial industry that services about 60 to 80 percent of the population in a very predatory way, while providing credit services to the wealthier segment of the population that makes borrowed money less expensive than one's own money.
We do not inherit the world from our parents. We borrow it from our children.
Posts: 66326
Threads: 140
Joined: June 28, 2011
Reputation:
160
RE: Consumer Protection Bureau - an oxymoron
February 7, 2019 at 10:04 am
(This post was last modified: February 7, 2019 at 10:08 am by The Grand Nudger.)
(February 7, 2019 at 8:10 am)onlinebiker Wrote: For an agency that's supposed to protect consumers - these pricks sure missed the mark.
https://www.nytimes.com/2019/02/06/busin...-cfpb.html
Doesn't the 13th Amendment outlaw this kind of shit?
What kind of moron thinks a payday loan is a financial solution???
It'd be quicker to just burn your paycheck.
Well, they -were- cracking down...but then payday lenders
bribed successfully lobbied the band of pirates at the helm. It's the common thread. Gotta protect the little business from the big common man. I don't think that anyone thinks it's a financial solution, but it's a solution to the guy holding his hand out for rent right now.
I am the Infantry. I am my country’s strength in war, her deterrent in peace. I am the heart of the fight… wherever, whenever. I carry America’s faith and honor against her enemies. I am the Queen of Battle. I am what my country expects me to be, the best trained Soldier in the world. In the race for victory, I am swift, determined, and courageous, armed with a fierce will to win. Never will I fail my country’s trust. Always I fight on…through the foe, to the objective, to triumph overall. If necessary, I will fight to my death. By my steadfast courage, I have won more than 200 years of freedom. I yield not to weakness, to hunger, to cowardice, to fatigue, to superior odds, For I am mentally tough, physically strong, and morally straight. I forsake not, my country, my mission, my comrades, my sacred duty. I am relentless. I am always there, now and forever. I AM THE INFANTRY! FOLLOW ME!
Posts: 8035
Threads: 47
Joined: September 12, 2015
Reputation:
41
RE: Consumer Protection Bureau - an oxymoron
February 8, 2019 at 7:17 am
(February 7, 2019 at 8:10 am)onlinebiker Wrote: For an agency that's supposed to protect consumers - these pricks sure missed the mark.
https://www.nytimes.com/2019/02/06/busin...-cfpb.html
Doesn't the 13th Amendment outlaw this kind of shit?
What kind of moron thinks a payday loan is a financial solution???
It'd be quicker to just burn your paycheck.
Lot of people haven't the first clue about money or interest oreven how percentages work. We evolved to think in discrete units of items to thinking of percentages and compounding is hard work.
And then you've got the problem that companies that give payday loans are semi-legalised loan sharks. They're not going to give their customers the information they need.
As to the constitution, a document of the rich, for the rich and by the rich is going to be inimical to laws and institutions for the public good.
Urbs Antiqua Fuit Studiisque Asperrima Belli
Home
