Comment of the Day
May 20, 2009 | Uncategorized | Comments (0)Schug is correct that if the Gutierrez price cap is imposed then many payday loan stores will close – especially in areas where the costs of buying or renting a store, and hiring employees, are higher.
This will force many borrowers who don’t have a car (or who need the loan to get their car fixed) to take long bus trips to the nearest store or, as Schug says, choose an alternative which may be far less desirable than what they had before the cap.
I’m sure the employees and suppliers of the stores which get shut down will also be very grateful to Congressman Gutierrez.
And America will be one step closer to a freedomless state where politicians, and those who bribe them, decide what everyone may and may not do.
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