please help...payday loan!!!

Culex

eyeopener2 wrote: »

please don't trust a Payday loan company, they are scum.

There are not, as scum or slime may be a source of Xanthan gum, whereas those latter-day Shylocks have little or no place in a civilised society.

The common rationalisation given for allowing such exorbitantly expensive loans to continue is that those lenders do not normally threaten or occasion violence to any borrower who defaults and that, if those licensed loan sharks did not exist, some people might have to borrow from more nefarious sources.

The argument might appear to be superficially plausible, but a closer look at it reveals its fallacy; one might as well issue burglary licences to people who have agreed only to steal a few items from someone's home as that would surely be better than the actions of an unlicensed and unregulated burglar who would steal everything and anything on which he could lay his hands. Nobody in their right wits would ever licence burglary, so why do we tolerate usury?

I would like to see the directors of these companies locked in the pillory at Covent Garden and other, appropriate public spaces, where the public may make their disapproval obvious in the time-honoured manner.

mbrownish

Yes, it's not good, and the OFT declined to do anything and then recently Parliament decided not to do anything either...

There's a Guardian cartoon which sums it up, but I'm not allowed to link to it Google "indebted and indentured"

Culex

mbrownish wrote: »

Yes, it's not good, and the OFT declined to do anything and then recently Parliament decided not to do anything either...

There's a Guardian cartoon which sums it up, but I'm not allowed to link to it Google "indebted and indentured"

I did - thank you,

It's actually a mini series:

1. part 1
2. part 2
3. part 3

With such inept and ineffectual "regulators" such as the Fundamentally Supine Authority and the Office of Faffing and Twaddling, one hardly needs to find a conspiracy for why usury seems to be tolerated.