Online Predatory Loans Exposed

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Sadly, many Americans are falling prey to illusory economic relief with online "payday" loans that charge triple digit interest and pile on more debt than they can handle. Some in Congress are trying to stop this predatory practice. Others are enabling these despicable loan sharks. American News Project's Lagan Sebert and David Murdock report.

Craig on "Imus in the Morning"
Thursday (6/4) 6:30 AM EST
Listen Live: WABC-AM (NYC) / WJZW-FM (DC)
(Simulcast on
RFD-TV)

 

    Comments

  1. Funny how conservatives are so Christian until it comes to usury.

    Payday loans of 100% and they're trying to increase that limit. Credit card loans to 75 year old women that have never missed a payment of 28%.

    But we gotta stop them gay marriages because that destroys lives.

    Posted by: don1one Author Profile Page | June 4, 2009 12:21 AM

  2. Hey don - I responded on the last thread. Woohoo!

    Posted by: warren Author Profile Page | June 4, 2009 12:33 AM

  3. Mark Twain:
    "When we remember we are all mad, the mysteries disappear and life stands explained."
    - Notebook, 1898

    Now we realize what predators we set ourselves up for when we accepted that first credit card. Credit card use has evolved from a harmless convenience to insane ruination of millions of Americans as they review their finances.
    As Twain alluded, the true nature of the credit card is now denuded, transparent it stands mocking us...we spent and spent in our madness and now ? ---ruination.

    Posted by: DexterJohnson Author Profile Page | June 4, 2009 12:36 AM

  4. don1: NH legalized it yesterday: REUTERS: "MANCHESTER, New Hampshire (Reuters) - New Hampshire on Wednesday became the sixth U.S. state to authorize gay marriage..."

    Posted by: DexterJohnson Author Profile Page | June 4, 2009 12:39 AM

  5. Regulation is desperately needed. Anything over 10% is just greed on a rampage.

    Posted by: jamie44.myopenid.com Author Profile Page | June 4, 2009 12:40 AM

  6. Gay marriage is a done deal. It's just a matter of when, the youth just don't care. I just use it as an extreme example.

    I couldn't believe they voted down a 15% cap. While NC is a heavy banking state, I'm constantly disappointed by our new Senator Hagan. She's a big supporter of tobacco and bank greed, not so much the people.

    Posted by: don1one Author Profile Page | June 4, 2009 12:48 AM

  7. http://blogs.cqpolitics.com/trailmix/2009/06/remembering-gm.html#comment-233159

    Carol, Thanks for the laugh. I think I live with four of those.

    Posted by: jamie44.myopenid.com Author Profile Page | June 4, 2009 12:51 AM

  8. Gay marriage is not a done deal until it is legalized on a federal level.

    Right now it is still in the early stages - like slavery way back when or abortion of recent memory - where even some Conservatives, e.g., Cheney, say let the states decide.

    The states should not be allowed to decide to treat people unequally. That is the point of the Constitution.

    Posted by: warren Author Profile Page | June 4, 2009 12:52 AM

  9. Warren,
    I've always thought Bush painted himself in a corner with Iraq. He put all of the troops on the border to force them to comply with inspections. The inspections were on-going, but summer was coming and he either had to forget about war until fall and pull out the troops, or do the macho thing and invade without any evidence. Bush being much more bravado than brains, invaded. At least that's how I read it.

    I would still like to see that classified report on weapons that Hussein submitted to the UN that not only inventoried weapons but named the companies and countries from whence they came.

    Posted by: don1one Author Profile Page | June 4, 2009 12:58 AM

  10. don

    "He put all of the troops on the border to force them to comply with inspections."

    That is exactly what I mean about engaging in diplomacy while actively - and overtly - planning for the talks to fail.

    That is why I said to max the other day that Obama, HRC, Gates, etc. should be working on a plan B in private.

    Posted by: warren Author Profile Page | June 4, 2009 1:02 AM

  11. Done deal in that it will happen. Like I said, it's just a matter of when. The evangelicals have used it as a hot button issue to raise money, but it has no emotional impact with younger people. So as old people move out and younger people move into positions of power they will approve it. At all levels.

    I agree that Bush was listening to the Neocons on the decision to ham-hand diplomacy his first term. He limited that in his second term, but by then it was too late.

    I'm still not comfortable with Summers and the rest of Ruben's old gang in the Treasury, but i think BO has a crack FP team. Especially if Hillary tossed out those jokers that wouldn't translate Russian correctly.

    Obama also has an instinctive understanding of the Muslim world, which will bring in some common sense vs. the ivory tower experts of the past administrations.


    Posted by: don1one Author Profile Page | June 4, 2009 1:24 AM

  12. Good points don.

    And I do agree that it is just a matter of time for gay marriage. But the sooner the better.

    Good night everyone. Big day at work for me tomorrow.

    Posted by: warren Author Profile Page | June 4, 2009 1:26 AM

  13. C-bob from last thread, yes, I did look hot in that ride.

    :-)

    tt

    Posted by: tiptoe Author Profile Page | June 4, 2009 1:36 AM

  14. WTF????

    704.49%

    That's nuts!!!!!!!

    tt

    Posted by: tiptoe Author Profile Page | June 4, 2009 2:15 AM

  15. The states should not be allowed to decide to treat people unequally. That is the point of the Constitution.
    Posted by: warren | June 4, 2009 12:52 AM

    Warren - I know.That's what is so funny and surely someone will point that out someday. Another thing he said that was even stupider was after he said it should be done by the states, not as a federal thing, was that everybody ought to be able tp marry whoever they please (his pronouns, not mine).

    I wanted to tyell, "Yeah, that's what we mean!"

    Very briefly, I agree with you about tv that way, Jamie, but it's not the tv - it's how long they watch etc. Some parents who use it as a babysitter probably have no choice either, sad to say. In a lot of places kids can't play outside cuz it's too dangerous. I'm just saying tv
    doesn't have to be bad for kids.

    Nite everbody.

    Posted by: bethyboo Author Profile Page | June 4, 2009 3:33 AM

  16. craig, down to earth yet? on imus just now, it sounded like you were up there soaring...

    Posted by: patd Author Profile Page | June 4, 2009 6:48 AM

  17. Posted by: patd Author Profile Page | June 4, 2009 6:52 AM

  18. seems like O would have waited for cc to get thru with the imus appearance before starting his speech......

    Posted by: sturgeone Author Profile Page | June 4, 2009 7:00 AM

  19. My kids both loved television -- especially shows like Electric Company, HR Puffinstuff, Land of the Lost -- a bunch of 'em. Both kids were A-students and ended up with college degrees including one with a PhD. TV? Not as important as what else those kids are getting on the homefront. Does the parent interact with them when it comes to developing critical thinking skills? What sorts of issues are discussed on a day-to-day basis? What experiences are they getting away from the television set?

    But did I sometimes use the television as a babysitter? You bet yer butt I did.

    Posted by: Patsi Author Profile Page | June 4, 2009 7:03 AM

  20. from the Ancient History website of Ms N.S. Gill:

    "Take a Couple of Quizzes
    Friday May 29, 2009
    I've created 4 new self-grading 8-question quizzes this month. I hope you enjoy them. Please let me know if I have any errors. Here they are:

    * Cynicism
    * Poetry Meters
    * Latin Abbreviations
    * Cleopatra's Needles"

    http://ancienthistory.about.com/b/2009/05/29/take-a-couple-of-quizzes.htm

    Posted by: sturgeone Author Profile Page | June 4, 2009 7:07 AM

  21. speech had a pretty good ending.... imho.... nice touch especially for that particular audience.

    Posted by: patd Author Profile Page | June 4, 2009 7:09 AM

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