Posted on 08/14/2012 3:05:09 AM PDT by GeorgiaDawg32
It runs several times a day and I finally paid attention to the "fine print".
Interest rate on a 10k loan is 89.66%, payments $743.99 for 84 months.
Now, I'm not against a private business lending money at an interest rate, but doesn't 89.66% seem a little high?
Yeah she is, only reason why I, and most guys, watch the commercial. I really don’t have a problem with what they’re doing. They tell you it’s expensive upfront and the fine print has the gory details. If you’re in a temprorary situation and need a quick fix they might be worth considering.
Yeah but....don’t you get a free gift of a set of Ginsu knives with every loan?
We did purchase Manhattan from the Indidans for next to nothing so I guess they’re just trying to get even,
“Rcvd. 7 November 1626
High and Mighty Lords,
Yesterday the ship the Arms of Amsterdam arrived here. It sailed from New Netherland out of the River Mauritius on the 23d of September. They report that our people are in good spirit and live in peace. The women also have borne some children there. They have purchased the Island Manhattes from the Indians for the value of 60 guilders. It is 11,000 morgens in size [about 22,000 acres]. They had all their grain sowed by the middle of May, and reaped by the middle of August They sent samples of these summer grains: wheat, rye, barley, oats, buckwheat, canary seed, beans and flax. The cargo of the aforesaid ship is:
7246 Beaver skins
178½ Otter skins
675 Otter skins
48 Mink skins
36 Lynx skins
33 Minks
34 Muskrat skins
Many oak timbers and nut wood. Herewith, High and Mighty Lords, be commended to the mercy of the Almighty,
In Amsterdam, the 5th of November anno 1626.”
Your High and Mightinesses’ obedient, P. Schaghen
http://www.thirteen.org/dutchny/interactives/manhattan-island/1/
She may be cute, but her brothers are big hairy guys in leather jackets with no sense of humor.
I was going to say...that seems low compared to some of the predatory lenders I’ve seen on late-night TV.
They’re not considered “white’.
They can sell them. I don’t think they are allowed to ship them. State taxes and what not.
It seems to me that if Indians want to engage in modern commerce, like loans, gas stations, casinos, they need to do so under modern America laws. If they want to stay where they are are worship the sun, fine. But they shouldn’t be receiving these special privileges.
Explain why they get to vote in U.S. elections, though., among other things.
They support the right people... They also get government welfare.
Gensu tomahawks.
>> Interest rate on a 10k loan is 89.66%, payments $743.99 for 84 months.
Not sure that your math is correct. $743.99/month for 7 years on a 10k loan is only 29.925%. At 89.66%, the monthly payment would be something like $10508.
Actually not. A number of years ago lobbyists from major banks succeeded in amending the federal banking laws to allow them to conduct interstate business under terms that would violate state anti-usury laws. That's why credit cards are issued from places like South Dakota or Delaware since those states don't have strict anti-usury laws.
The net result is mainstream credit card companies charging rates that would have been illegal forty years ago. It is ironic that banks today insist that there would be no credit available to anyone if they couldn't charge such high rates, but they were successful for many years under the state anti-usury laws.
We can thank the federal government for legalizing loan sharking.
Rent-to-own arrangements charge over 300% interest.
Predators on the ignorant.
The American Indian gets back at the white man!
(Their spokeslady is HOTT!)
Tribal law supersedes even federal law.
I had a friend that adopted a Native American child. The adoption was completed in NY state court and they had full custody etc....
4 years later an "uncle" shows up and demanded custody. He took it to tribal court and the child was taken from my friend.
No appeal because he did not have standing with the court since he was not a native American.
You’re asking me to explain policies of the Bureau of Indian Affairs and other US governments? You mean, laws are supposed to be rational?
Being stupid is not against the law so why should usurious interest rates be?
Which begs the question; if interest rate is a reflection of risk then how bad does your credit have to be not to qualify for a loan charging 342.86% interest?
If you are getting screwed by the government... thank a lobbyist and a weak minded, vain power hungry politician.
Hey congresscritter old buddy old pal, you’re the greatest, let’s do dinner. How about we fix you up on a date with this hot babe and make a “donation” to your campaign fund. We just love you and think you are just a Great American. Why, you are such a brilliant strategist and have such vast business experience from all your years of kissing babies and screwing people you’d fit right into our organization. We’ll pay you a million a year to help us with our public relations or something like that.
We need a tariff on cane sugar to protect the American Farmer (flags wave, patriotic music plays and red white and blue rockets go off). Do you think you could help out with that on your committee to help out the American Farmer? Heck no, there’s nothing in this at all for us, we just make corn syrup.
Why heck no, this high fructose corn syrup is just as healthy as cane sugar. It’s all bad for you really isn’t it? No, we just want to protect the American Farm Family. This corn syrup is Made in America from American Corn, nothing finer. Same stuff as cane sugar, just different by one or two molecules.
And so it goes every single day somewhere in this corrupt nation that once was a Republic and is now nothing more than a rabble.
Post of the day.
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