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	<title>Payday Pundit</title>
	<link>http://paydaypundit.org</link>
	<description>News and Information About The Payday Lending Industry</description>
	<lastBuildDate>Sun, 14 Mar 2010 13:53:58 +0000</lastBuildDate>
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	<item>
		<title>Confession from a credit union official</title>
		<description><![CDATA[I think he&#8217;s saying the credit union can&#8217;t make any money:
&#8220;We&#8217;re an alternative to payday lending,&#8221; Bowman said. &#8220;It&#8217;s a really tough business model to crack. You saw our net worth ratio. It&#8217;s a near-death experience.&#8221;
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		<link>http://paydaypundit.org/2010/03/14/confession-from-a-credit-union-official/</link>
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		<title>Hope in AZ</title>
		<description><![CDATA[From the story in AZCentral.com:
There is a revived legislative effort to keep the high-interest lending industry alive in Arizona, but this version includes a payout to community groups.
Sen. Russell Pearce, R-Mesa, has proposed a strike-everything amendment to House Bill 2370 that would, among other things, allow fees of $15 per $100 borrowed, restrict the number [...]]]></description>
		<link>http://paydaypundit.org/2010/03/14/hope-in-az/</link>
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		<title>Taking the Hill</title>
		<description><![CDATA[Capitol Hill that is.  The Bankers have fixed bayonets and are ready to charge according to this story:
About 900 bankers will converge on Capitol Hill next week for a conference that lobbyists say will give them a chance to speak out against a proposed consumer protection agency as Senate Banking Committee Chairman Christopher Dodd unveils [...]]]></description>
		<link>http://paydaypundit.org/2010/03/13/taking-the-hill/</link>
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		<title>It never stops</title>
		<description><![CDATA[I&#8217;m talking about the bad journalism at the New York Times.   From yesterday&#8217;s editorial about financial reform:
Lenders adamantly oppose a new agency, in part because their dodgiest offerings — like subprime mortgages of yesteryear or short-term “payday loans” — are often their most profitable.
The New York Times and the other media continually recite this canard [...]]]></description>
		<link>http://paydaypundit.org/2010/03/13/it-never-stops/</link>
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		<title>What is the Center for Responsible Lending?</title>
		<description><![CDATA[Big Government.com is taking a look in the must-read of the day:
The Center is headed by liberal crusader Martin Eakes. In 2008 Politico referred to Eakes as the “main intellectual engine driving Democratic responses to the housing crisis.”
The Center’s primary benefactors over the years have been the subprime mortgage speculators Herb and Marion Sandler who [...]]]></description>
		<link>http://paydaypundit.org/2010/03/12/what-is-the-center-for-responsible-lending/</link>
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		<title>Who caused the collapse?</title>
		<description><![CDATA[From CNNMoney: 
Failings by Lehman Brothers executives and its auditor led to the bank collapse that unleashed the worst of the financial crisis, according to a report by court-appointed investigator.
Lehman &#8220;repeatedly exceeded its own internal risk limits and controls,&#8221; and a wide range of bad calls by its management led to the bank&#8217;s failure, the [...]]]></description>
		<link>http://paydaypundit.org/2010/03/12/who-caused-the-collapse/</link>
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		<title>Why is Dodd going it alone?</title>
		<description><![CDATA[From Politico:
The specter of health care has invaded Senate efforts to pass financial reform legislation, threatening to poison another Obama administration priority.
Republicans blamed health care reform for Senate Banking Committee Chairman Chris Dodd’s decision to unveil his own bill Monday without Republican backing. They said Dodd is doing so only to clear the decks for [...]]]></description>
		<link>http://paydaypundit.org/2010/03/12/why-is-dodd-going-it-alone/</link>
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		<title>Secret weapon?</title>
		<description><![CDATA[You&#8217;ll never guess who this columnist give that moniker to:
The person I have in mind is Elizabeth Warren. She chairs the Congressional Oversight Panel, which monitors the TARP bailout. But perhaps more important is her unofficial title: mother of the proposed Consumer Financial Protection Agency.
]]></description>
		<link>http://paydaypundit.org/2010/03/12/secret-weapon/</link>
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		<title>Arizona future</title>
		<description><![CDATA[From the AZStar:

Even if payday lenders get a majority of lawmakers and the governor to go along and allow them to continue doing business after June 30, payday-loan shops likely will have to shut down, at least temporarily.
A simple majority vote enacts a law 90 days after the regular legislative session ends. And at this [...]]]></description>
		<link>http://paydaypundit.org/2010/03/12/arizona-future/</link>
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		<title>Understatement</title>
		<description><![CDATA[Senator Corker and the &#8220;cheap shot.&#8221;
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		<link>http://paydaypundit.org/2010/03/12/understatement-2/</link>
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