[bitterohiogunclinger]

“My Sailors are constantly getting themselves into financial messes due to these rip off places.”
I personally think these places are abominable, but my gut tells me that government crack downs from Congress is going to have ill effects on all of us.
Payday loans and “rent to own” places make a profit by making it easy for otherwise unqualified borrowers to walk away with instant goodies. In return, they charge horrible interest rates and are a poor choice for doing business with. But credit card companies are doing the same thing, jacking up rates to 20 to 30 percent APR. leaving people that owe balances in the same boat. The only good solution is to not live on credit.

[Dr. Sivana]

But credit card companies are doing the same thing, jacking up rates to 20 to 30 percent APR.

The payday loan people charge more like 200 or 300%. I sometimes wonder why we REALLY went after the mob? Prostitution is overlooked, winked at and is sometimes legal. Gambling (with worse odds than the mob EVER gave) is provided for by the state and state sponsored operations. Loan sharking is fine, now, as long as you give the government its cut. That leaves drugs and racketeering. I mean, that leaves drugs.