Wednesday, December 11, 2013

Golden Ghetto Money Lenders Cont'd



Another brave journalistic assault on an industry that's so profitable it doesn't really need to advertise . . .

Cashing Out: The Usury Suspects, Part 2

What's nice . . .

Playing up class war tensions and linking the Johnson County good life to crippling interest rates on po'folk . . .

However . . . A broader perspective on short term loans realizes that . . .

Po'folk might actually understand the risk . . . Additionally, traditional banks have all but abandoned the urban core and are just as shaky payday lenders for those with even a cursory understanding of the derivatives market.

3 Comments:

Chad, struggling in Leawood said...

My religion doesn't allow usury. Or onanism for that matter. Which is darn ner impossible what with this new secretary we hired, got an ass like a perfectly ripe gold-foil wrapped Harry and David pear.

Chet Marrson said...

I understand the poor folks dilemma about not being able to get loans. But facts is facts, if they do get a loan a certain percentage then never pay it back so statistics get made and lenders say nope sorry. So along comes the short term people with high interest rates to cover for those who don't pay back their loans. I know it sucks to be poor but if we was all rich who would drive the snow plows, trashtrucks, and repair the city water lines? As my Daddy use to say before he left this cruel world, God made poor folks so the world would always have enough ditch diggers.

Byron Funkhouser said...

According to Christian Mythology poor people go to heaven, rich people do not.