Passage of Issue 5 Means a More Orwellian Ohio
September 30, 2008 | Ohio, industry, positive media coverage, regulation | Comments (2)Maggie Thurber does a great job speaking against Issue 5 in Ohio:
Since when is it the role of the government to track what you borrow, when and how much? Since when is it the role of government to tell you how you can use the money you borrow? Since when is it the role of the government to decide whether or not you need or should take a class in finances? Since when did Ohioans think it was okay to grant government this kind of intrusion into our daily lives?
Even if you think payday lenders should be restricted by state law to certain interest rates, how can you possible approve of giving the government such authority over peoples’ lives?
Credit is not free money.
September 30, 2008 | personal finance | Comments (0)Eventually you have to pay back what you borrow and most of the time paying back includes a fee for the privilege of spending someone else’s money, be it an upfront fee like a payday loan or an interest based fee like a credit card. In the last few years it seems like consumers and banks alike have forgotten this, leaving us in the situation we are now.
Now, after giving people more free credit than they ever needed (this pundit still gets 4 card offers a week), the credit card companies are reminding their clients to “use it responsibly“…a little to late, guys.
