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Spewing nonsense

February 26, 2010 | Colorado, industry | Comments (0)

H. Harrison Cochran, the publisher of the Aurora Sentinel in Colorado, says this in a misguided, uninformed column today:

“Why is the payday loan industry growing at such a rapid rate? And why are the most savvy financial minds entering this “loan shark” business segment? The answer, of course, is the TREMENDOUS PROFITS

Where are the tremendous profits?   The industry in fact makes very modest profits.

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