More CBS video
July 29, 2008 | Ohio, media coverage | Comments (2)This bit of video is part of CBS’s “Eye to Eye” feature, exclusive to the web. This video features Ohio State Representative Chris Widener talking about the payday lending legislation enacted in Ohio. Notice how Widener continues to cite “a cycle of debt” and “statistics” as justification for the legislation, but never gets specific (especially with the statistics).
Widener also ticks off the different measures the legislature considered for regulating payday loans — a statewide database, a limit on borrowing — measures that would have addressed the core problem of this issue: personal responsibility. Instead, Widener and the Ohio legislature chose to punish and eliminate an entire industry.
The Payday Pundit’s favorite thing about this interview is the smug look on Widener’s face. He must be incredibly proud to have elminated 6,000 Ohio jobs.
Comments»
I think he is especially proud to get an interview with CBS. That’s worth 6000 jobs to him.
Representative Widener and the rest of the republican controlled Ohio General Assembly deserve credit for coming together with democrats to develop a solid consumer protection bill. Their goal was not to put anyone out of work, but to end the cycle of debt for hundreds of thousands of Ohioans and encourage payday lenders to compete with other small loan lenders who charge reasonable interest rates.
It’s rare thing when the Democratic Governor Ted Strickland, Republican Chairman Chris Widener, Republican Speaker Jon Husted and Republican Senate President Bill Harris can all get together with their colleagues and pass quality legislation. House Bill 545 is one of the best consumer bills in the country and all those who played a role in its development should be proud.