Elites debate payday loans
November 19, 2009 | alternatives, industry | Comments (0)The Atlantic magazine online is having a vigorous discussion. Weigh in if you have time. We liked this response to some of the elitist trope of other commenters:
If risky, high-interest loans are made illegal, only illegal operators will make risky, high-interest loans. And historically, they have done a lot worse to defaulting borrowers than collect too much interest. Just pointing out that there are worse things than financial stress.
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