[BITList] Fwd: Loan firm’s wonga buys the ears of ministers - Telegraph

[X50type]

Don't like the sound of the office of fair trading!
It sounds like the government telling business how to do their job. I say keep the gov out of business; it's quite likely that wonga has found their customers like paying 4000 per cent and are, in fact, grateful to wonga for being so charitable - it's the Christian thing to do.
It's fine businesses like wonga that keep the wheels of capitalism turning smoothly.
The US federal trade commision's bureau of consumer protection is an example of government interfering with pay day lenders wanting to make an honest 4000 per cent or more. Opponents of pay day loans want the interest rate pegged at 36 per cent; this would be a disaster for the poor who value the service highly, and ruination for the charitable pay day loan operators.
Kindness, charity and capitalism are under attack by the bureau of consumer protection and its socialist lackeys, make sure the office of fair trading  understands the needs of businesses like wonga and stays out of their philanthropy.

Ct

Sent from my iPad3


On Oct 17, 2012, at 2:00 AM, "M.j. Feltham" <ismay at mjfeltham.plus.com> wrote:

> Money talks!
> 
> Mike
> -------------------------------------------------------------------------------------------------------------------------------------------------------------------
> 
> 
> http://www.telegraph.co.uk/finance/personalfinance/borrowing/loans/9613729/Loan-firms-wonga-buys-the-ears-of-ministers.html
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