[BITList] 800% loans anyone?

[David Harvey]

Way back in the early 1950's when I was an apprentice you could borrow a
pound from the crew social club and re-pay 25 shillings. I believe it was
the main source of social club funds.

Dave

On 21 August 2011 23:36, COLIN TAYLOR <s14engine at hotmail.com> wrote:

>   mike
> *‘the government finds it hard to get rid of them’*.....................but
> are they on every street corner with a legitimate shop – as they are here?
> as you see from the article, the 800% apr is not illegal for the ‘pay day
> loan’ business.
> do I need to add that they have powerful lobbyists?
> note the fancy name of their association - trying to give the impression
> that they are here to provide a service to the community – and are certainly
> not loan sharks!
>
> *By Fredreka Schouten<http://content.usatoday.com/topics/reporter/Fredreka+Schouten>,
> USA TODAY*
> *WASHINGTON — Payday lenders have stepped up their federal lobbying as
> Congress works on sweeping legislation to regulate banks and protect
> consumers from the risky financial practices blamed for the economic crisis.
> *
>
> *The Community Financial Services Association, which represents more than
> half of the storefront payday lenders<http://en.wikipedia.org/wiki/Payday_loan>,
> spent $2.6 million in lobbying last year — a 75% jump from 2008 — as it has
> battled to exempt itself from regulation by a proposed consumer protection
> agency President Obama<http://content.usatoday.com/topics/topic/People/Politicians,+Government+Officials,+Strategists/Executive/Barack+Obama>wants to create.
> *
>
> *The Online Lenders Alliance, the association for Internet-based payday
> lenders, has hosted dozens of fundraisers for lawmakers at a Capitol Hill
> townhouse. *
> ct
>
>
>
>
>  *From:* Michael Feltham <ismay at mjfeltham.plus.com>
> *Sent:* Sunday, August 21, 2011 9:39 AM
> *To:* BitList <bitlist at lists.bcn.mythic-beasts.com>
> *Subject:* Re: [BITList] 800% loans anyone?
>
> Colin,
>
> In the UK they are called Loan Sharks.  For some reason the Govt. find it
> hard to get rid of them
>
> Mike
>
> ------------------------------------------------------------------------------
> On 21 Aug 2011, at 15:10, <x50type at cox.net> wrote:
>
> Caught short of cash –try this!
>
> ct
>
>
> Louisiana lets payday loans flourish.
>
> Published: Sunday, August 21, 2011, 8:30 AM
>
> By Contributing Op-Ed columnist
> Follow
>
>
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