Payday Pundit

News and Information About The Payday Lending Industry

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This email went to Ohio legislators

August 6th, 2008 · No Comments

To all you payday lending hypocrites (excuse some errors in distribution):

I see that Ohio’s Keno is consistent with the 28% limit, except it is every
4 minutes!!!

Anybody have a calculator to determine the annual rate of Ohio’s take?

Very truly yours,

Mike Coleman
P.S. For the mathematically challenged, Ohio is expecting to “earn” $.28 for every dollar bet per the Ohio Lottery projections. A single mother in Ohio can’t borrow $100.00 for emergencies, but she will have no trouble dropping a hundred in an hour at some Ohio bar. What a State!

 

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Tags: Ohio · industry

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