America’s #1 Populist, Jim Hightower, has jumped on the anti-payday lending bandwagon and denounced payday loans. Like so many of the anti-payday lending groups, Mr. Hightower demands that payday lending businesses be shuttered to protect “very-low-wage working people – those living paycheck to paycheck who can least afford to have their pockets picked” but fails to tell those very same people what to do when they need to make ends meet. If you don’t offer any other option for a clearly defined need, is that actually helpful? Payday loans are often a less costly option to bouncing a check, paying overdraft fees or other bank charges. Take away this option, what are consumers to do when they have an unexpected expense? The masses are waiting for your answer, Mr. Hightower.
Another Populist Pandering to the Masses
August 27th, 2008 · 2 Comments
Tags: alternatives · industry critics
2 responses so far ↓
1 joe k. // Aug 27, 2008 at 9:32 am
payday loans are a very drastic approach to financial assistance, pawn shops usually cost less to redeem your property than a pay day loan.either way people recomending theft as a solution will be lucky not to end up in a cell.whether you agree with the practices or not payday loan places enter into a legaly binding contract ,and as an adult you are responsible for your choices.the same applys to credit card debt,fortunatly help is available there.any interested shoot me an email jkarout78@gmail.
2 Aurther's critic // Aug 30, 2008 at 10:14 am
Thank you Joe. Yuo dont sound like a suporter of our business but you do understand that people should have choices and that they are responsible for their descisions. I honestly wish more people would be open minded even if they dont believe in the cause. Also that you are offering to help people in need instead of taking away one of their options is very commendable
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