Comment of the Day
August 30, 2009 | Uncategorized | Comments (0)Actually, from yesterday:
What happens when short-term credit options dry-up?
The consumer will still have a need and demand, which will force them into the world of unlicensed, unregulated lenders on the internet. The consumer will give up all control of thier bank account to a company that is in “god knows where” and pay approximately $30 per $100. Makes alot of sense…
On the flip side, Mr’s Hintz will be able to grandstand and say the “number” show that I have done this great thing and helped people our the the evil PDL trap, just look at these numbers from the WDFI. The number of loans have dropped by 90%!!!
Again, the truth is not that the consume has all of the sudden not needed the option, but instead forced to go “underground” to borrow!!! Seems just like Prohibition!!!
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