Mayday for Payday Loans?

The Goldwater Institute ^ | June 4, 2008 | Byron Schlomach, Ph.D

[commonguymd]

Call it the new compassionate conservative movement that loves the government and needs the government to restrict and control things because they either need to be told what is right or wrong, or need to have the government absolve them of their responsibilities. They don’t feel they can make their own decisions. Matter of fact, if you watch close enough and look at enough threads, you will find that many look to the government as the be all to end all. I can point to instances where one can almost think that the Government has replaced God in their lives, and I am not the most religious person.

[commonguymd]

“Responsibility comes part and parcel with freedom”

Doesn’t freedom include the ability to be a dumbarse? With freedom you have winners, and you have losers. If you want to pick up all the losers, the winners stop winning and then everyone is on the same plane. Of course, this issue is a minuscule issue when it comes to freedom, but if people want to be stupid, I say let them be stupid.

[gidget7]

Thank goodness finally a conservative voice is heard from!

[gidget7]

and thank you too commonguy!

[mr_hammer]

“It's shocking to me that almost every poster on this thread favors government-mandated price controls, which is what state usury laws impose. As long as there is full information about the APR and no coercion involved, I don't want the government to interfere with private loan contracts. What interest rate is ethically “too high”? How did you determine that interest rate? Does it depend on the credit-worthiness of the borrower?”

The real problem is our failed school system, I would venture to guess that many who use these blood sucking enterprises are truly ignorant of exactly how much they are going to pay in interest.

It gives me the “willies” just walking past the place.

If you ever sat in your car and watched those who go in to those places, it is very evident they don't have an M.B.A.

I am sorry, preying on those who don't know what end is up is not capitalism, it is thievery and abuse.

You see; it is that uber capitalism, I got mine...screw you, you dumb idiot if you can't make a living mentality that is going to get a socialist elected.

The pendulum has swung too far in one direction...better duck.

[bert]

One point not noted, if the interest rate is too high, there will not be anything left to be sucked out as tax.

[TenthAmendmentChampion]

Don’t forget extortion!

[Dr. Sivana]

Don’t forget extortion!

We have Superfund, DCFS (State child protection services), Operation PUSH, the ACLU and the global warming crowd doing what the mob used to do more predictably (and generally more reasonable rates) 100 years ago.