Bad journalism of the day award goes to…
August 11, 2008 | Center for Responsible Lending, Colorado, alternatives, industry, industry critics, local issues, media coverage, states | Comments (0)Laura Snider at the Boulder Daily Camera. Her insipid column repeats the discredited Center for Responsible Lending description of the the average customer. Not to mention her weird ranting and raving about needing money to see the rock band Radiohead:
Between Boulder and Longmont, there are12 of these places, which offer “fast, friendly service.” The problem is these businesses can charge up to 800 percent interest. (You read that right.) And though I could be thinking, “It’s Radiohead. I’ll borrow $50 today and pay back $60 tomorrow,” the reality is I’m living, more or less, paycheck to paycheck. Which means, if I don’t have the $50 this month, I won’t an extra $60 next month. Next thing you know, you’re taking out a loan to pay a loan.
The difference between this month and next month, Ms. Snider, is that you will get pay check. Or doesn’t your newspaper pay your for this wisdom?
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