sigh...even more proof that democrats are as stupid and greedy and in the pockets of big business as the republicans....
Why do the liberals always assume that poor people are stupid? Poor people are smart! They go to these payday loan places for the lovely decor, companionship of their peers, and because they believe passionately in the free market, and want to show that belief through action.
They spend every last cent they get from payday loans on consumer goods, like plasma TVs and fancy cars with those spinning tire things, that those of us who are fiscally responsible only get when we can pay cash. And don't forget about MacDonalds. Sure, it makes them fat, but as acolytes of the pure capitalism movement, no sacrifice is too great.
It's the soft bigotry of low expectations on the part of the greedy liberals that would want to squelch this, and it's the children of the poor (who are surely all illegitimate, but that's not important right now) who would suffer most.
Why do liberals hate America?
I thought that Kirby represented working people down in Lakewood? What gives?
Something needs to be done about payday lending in this state...they have already have banned the bastards in 11 states.
Come on Legislature, show the working peeps some love.
I sometimes miss being in a state with decent consumer protection (New York - thank you, Eliot Spitzer.)
So this fairly simple, straight forward proposal to cap pay day loan interest rates has 80% support state wide? Can anyone say "initiative"?
I remember living in BC, where the max loan rate is 36 percent - period.
It was fun.
I agree with @5 - sounds like a consumer initiative is going to happen if they don't do it this year.
oh, and @2, it's you Reds that hate America. We Blues are tired of your whining combat-avoiding Big Govt Big Deficit ways.
don't be hatin'....
Actually its people like those of you that donít have the facts that cause the biggest problem. Payday lending hasnít been banned in 11 states. It's only been banned in Georgia and that state will have new enabling legislation pass this year. The states you refer to never had enabling legislation or their rate caps were so low no one opened there.
Get the facts before you open your mouth and sound as stupid as you are uninformed.
"Payday lending hasnít been banned in 11 states. It's only been banned in Georgia and that state will have new enabling legislation pass this year. The states you refer to never had enabling legislation or their rate caps were so low no one opened there."
So what? What's the difference? There wouldn't be nearly as much complaining about payday loans if MoneyTree was offering interest rates at, say, the level of your average credit card. But that's not profitable enough by itself for them to operate, so a rate cap that low is essentially a ban.
In order to combat spam, we are no longer accepting comments on this post (or any post more than 45 days old).