Ohio must be the exception…
August 1, 2008 | Ohio | Comments (4)With more people losing their jobs across the country and those looking for a job finding it tougher to land work Ohio picked a strange time to run 6,000 jobs out of the state. From the AP:
The nation’s unemployment rate climbed to a four-year high of 5.7 percent in July as employers cut 51,000 jobs, dashing the hopes of an influx of young people looking for summer work.
July’s reductions marked the seventh straight month where employers eliminated jobs. The economy has lost a total of 463,00 jobs so far this year.
Those savvy politicians must know something about the Ohio economy that we, the mere mortals, cannot even comprehend.
Comments»
John, John, John….
Payday loans are 2 WEEK loans, not ANNUAL loans– so you are comparing apples (payday loans) and oranges (annual loans). A payday loan is intended to be a short term loan…. therefore the 391 % you quote is NOT accurate.
And in case you don’t understand HB 545, some smaller payday lenders have closed their doors already and stopped writing loans. It is not feasible to think anyone can succesfully operate and turn a profit on 28%. So by supporting HB 545, you and the Ohio General Assembly are essentially laying off 6000 Ohioans.
Payday lenders don’t create a “cycle of debt”, just like Jack Daniels and Marlboro don’t create alcoholics or smokers. People create or fall into a cycle of debt– some willingly and some unknowingly/unwittingly by making poor choices/decisions. The answer is not simply to do away with a very necessary viable financial option. The answer is to educate, regulate, track, etc.
I am an adult and want to make my own financial decisions– about how I spend my money, where, on what, etc. It’s called personal accountability and responsibility!!
The Payday lending store that I work at, HAD to close 19 of it’s stores due to Bill 545. The remainder of the 9 left may still be closing. The wonderful legislators of Ohio have made the comment that the Payday lending jobs were NOT worth saving…..Well, then they can give me a job that they THINK is worth saving and keeping. People CHOOSE to come to our stores. We don’t force them to borrow. It’s THEIR choice. I want to keep my job!! But if my store closes wonder if Gov. Strickland will help me find a good job??? Doubt it, and the sad thing is that I voted for those people..how sad!!!
John Please! Have you read HB545? Not only does it reduce the interest rate but also limits the amount of times anyone can get a loan in a year. If they have to have more that the alloted loans in that period they must take a class. When was the last time you were required to take a class to get a credit card?, or have ever been limited in the number of credit cards you hold? I work for a PDL company and have for almost 10 years, I worry about the choices that are being taken away from the American public, good or bad it should be a choice we are allowed to make for ourselves. We should never find ourselves being big brother to the working poor and taking away what may be their only choice of credit unless we are willing to loan them money ourselves. Next time you see an elderly person at the pharmacy offer to pay for their meds. Then you can say you helped them financially.
lol…I think they deleted all of “John’s” ignorant comments. I am sure he will be back with a new name