Payday loans exist because there is an segment in society that needs them. Unfortunately these lost souls will wander around in finacial purgatory as the financial predators feed off them for ever.
I'm not pro Payday but the banking industry in general loves to smear this kind of loan because the product Payday provides is in direct competition to the overdraft fees that the bank charge their customer base. The banks never break down what their overdraft fee converts to as an a.p.r. A bank charging $30 for a $2 overdraft amount to some serious interest.
As long as there are unfortunate people who need money there will be someone to exploit them. It's a sad fact about our humanity, but it's a concept that is old as mankind.
Hello Ms. Bottari, first-on "Dodd's Dilemma"--We have been looking for an agency with "teeth" to try and "even the playing field" in our day-to-day dealings with Corporate America.
We would like to see Consumers (read: customers, patients, clients, etc…) have the necessary education and rights to prevent another "Economic Debacle", and to have us (Consumers) involved in our financial decision-making process. As you know, it's kind of one-sided currently and a very people get to decide how the rest of the American people are going to suffer--err, "prosper".
The one bit of a "ray of hope" was the coming of a Consumer Financial Protection Agency; excuse me, but, damn. The present administration is kowtowing a bit much to the pseudo-powerful economic elite (it isn't just Wall Street-but they have their greedy hands in all of it).
We do not begrudge those that want to make as much as they want; but they live in a society that allows them to do that and so they must pay their fair share. Those "1%ers" really have nothing to fear from what's left of the middle-class, but the majority of Americans must be allowed to have real input in our financial foundation, if we are to make this "democracy" actually work; and the need for our "representatives" lessens every day that we gain more knowledge.
We would also like to say that your blogs are very close to the "heart" of the matter and that matter is nothing short of our financial structure and reward system be changed in a more positive manner. Uniting people under one banner of "The American Consumer", cuts through the "left, right, conservative, liberal, capitalistic, socialistic" rants that only divide the people; of course, that is part of the "Plan"—"Divide and Conquer", still works, unfortunately…
Thanks again for your thoughts on this very important issue; now it's time to awaken the masses and "re-educate". Take good care and wish you the best in your endeavors.
Sincerely,
Ira Reschman
Vice President
Peopletech™
8837 W. Patterson St.
Tampa, FL 33615-2303
ira@peopletech.org
http://peopletech.org
Dear Winston:
I stand by my observations and critique. The fact that the people chosen work for the Governor or were delighted to sit behind him doesn't change the fact that they were part of the stagecraft of the event. It is distinct from the firefighters kept from the call of duty by President Bush's FEMA stage managers, because at least the group behind Governor McDonnell were willing helpmates to the choregraphy. And, as I made clear in my article, it's not that McDonnell doesn't have any diversity among his supporters. It's clearly a PR tactic though, intended to broadcast a broader diversity as well as a uniformity of support in response to the State of the Union address. So, while I take you at your word that you are concerned, I don't have any qualms about calling out this sort of ostentatious tokenism for what it is.
Hmm... I wonder what prompted this? especially so after-the-fact and late in the game? broadening the party appeal? whatever the motivation, in the end I think it's a good thing: "allowing" card-carrying republicans to be pro gay-marriage without too much cognitive dissonance. In the end it lets the dialogue flow a bit more around this issue in that regard. Further dialogue is always a good thing.
Payday loans exist because there is an segment in society that needs them. Unfortunately these lost souls will wander around in finacial purgatory as the financial predators feed off them for ever.
I'm not pro Payday but the banking industry in general loves to smear this kind of loan because the product Payday provides is in direct competition to the overdraft fees that the bank charge their customer base. The banks never break down what their overdraft fee converts to as an a.p.r. A bank charging $30 for a $2 overdraft amount to some serious interest.
As long as there are unfortunate people who need money there will be someone to exploit them. It's a sad fact about our humanity, but it's a concept that is old as mankind.
Hmm... I wonder what prompted this? especially so after-the-fact and late in the game? broadening the party appeal? whatever the motivation, in the end I think it's a good thing: "allowing" card-carrying republicans to be pro gay-marriage without too much cognitive dissonance. In the end it lets the dialogue flow a bit more around this issue in that regard. Further dialogue is always a good thing.
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