Comment of the Day II
December 3, 2008 | Uncategorized | Comments (0)How come absolutely NO politicians will bash the banks and credit unions as freely as they bash payday lenders over usurious fees?
Maybe it would be political suicide to speak on behalf of the reviled payday loan industry. After all, sooner or later someone is going to blame payday lenders for reducing the fee incomes of the banks and credit unions…..and how that contributed to bank failures and the global financial crisis………..
After all, now that the banks and credit unions can’t rip off people on their mortgages, how can they survive if they can’t rip off their depositors????
Let’s also not forget that the competition created by the payday lenders will also force the banks and credit unions to keep their ‘reasonable’ fees from getting completely out of hand. All this consolidation within the banking industry is eliminating competition and opening up the way for banks and credit unions to freely exploit the public.
Now to get rid of those annoying payday lenders………
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