Payday Pundit » Shawn Webster http://paydaypundit.org News and Information About The Payday Lending Industry Mon, 21 Jun 2010 21:00:48 +0000 http://wordpress.org/?v=2.9 en hourly 1 “Why don’t we look at the fees all financial institutions charge” http://paydaypundit.org/2008/05/01/why-dont-we-look-at-the-fees-all-financial-institutions-charge/ http://paydaypundit.org/2008/05/01/why-dont-we-look-at-the-fees-all-financial-institutions-charge/#comments Thu, 01 May 2008 13:22:41 +0000 Payday Pundit http://paydaypundit.org/?p=220 That’s a direct quote from Ohio State Representive Shawn Webster who makes the important point that one industry is being singled out.  This Cincinnati Enquirer story also contains this remarkable quote: 

“Our national debt is outrageous – $124,000 for a family of four – and consumer debt is at an all-time high – $8,300 per person,” said House Speaker Jon Husted, R-Kettering. “The bill we passed today helps to end the cycle of entrapment that has found Ohioans in circumstances they simply cannot escape.”

Payday loans are responsible for the national debt?  And the $8,300 debt per person he cites is about the amount of credit card debt every American has.  

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