Categorized | Media inaccuracies

See ya, wouldn’t wanna be ya

The Payday Pundit is dancing on the grave of the Washington Independent, an online news site that folded today because it couldn’t make money.  The Independent was anti-free markets, a critic of all industries that offered private sector solutions to the problems of working Americans and in general an ideologically driven news institution.  The Independent lived off of donations, probably from people who made money in ways the Independent journalists wouldn’t approve of.   Goodbye and good riddance.

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9 Responses to “See ya, wouldn’t wanna be ya”

  1. Brian Cook says:

    So, just so I’m clear: In an economy where there’s about 10% employment, you’re “dancing on the graves” of those who have just been laid off?

    Perhaps you’re unaware of this, but some people have the perception that the payday loan industry is a haven for soulless demented people looking to profit off the bad luck and misery of the less fortunate. This type of juvenile schadenfreude isn’t doing your industry any favors.

  2. GSparks says:

    If it were pro-free-market, I suppose it would have found a loon to sponsor it as a propaganda outlet so it can operate at a loss.

  3. Payday Pundit says:

    Payday lenders have closed stores in Ohio, Oregon, New Hampshire, Arizona, and Washington, DC because propoganda from outlets drive legislatures to enact rate caps. The industry’s critics have shown little sympathy for the thousands of employees who’ve lost their jobs.

  4. Curious says:

    If I have to close my stores, lay-off my employees, file bankruptcy and can no longer help my customers, will there be anyone other than those in my industry to be their to lend me support? No, because the the ones with a voice against the industry have never taken the time to learn about the process or the people that provide and use the service. They just feel the need to protect everyone and make them conform to thier idealistic and in many cases, unrealistic way of living for the common citizen.

  5. checkintoloanshark says:

    I must say I’m delighted to read in the comments that some payday lenders have actually been forced to close down. It’s the most delightful news I’ve read all day. I’m sure the executives are living quite comfortably off the profits they made from usury and exploiting the desperate poor with loan shark interest, but I’d like to imagine they ended up living in poverty next to their former victims. I hope to live long enough to dance on the grave of the payday loan industry.

  6. Amy says:

    The fact is that I both work at and use payday loans. They are highly regulated and useful when used correctly. This means that yes there is a profit but not as much as people think. It is a very expensive business to run! We are responsible for doing our due dilligence to be sure that the customer can repay us. Let me tell you the first time that you have nowhere to turn and you need money for fixing a car that broke, paying for a medical emergency, or were sick and your paycheck didn’t quite cover the bills you would be thankful that there is someone out there that you can loan the money from to take care of those things. People can think the worst if they wish but should take the time to compare the bank fees or shut off fees to the fees of a payday loan so that they can see which alternative is better. Again, profit – obviously or know one would own a payday loan place! Loanshark??? I don’t think so! Again we are highly regulated!


  1. [...] of which, an anonymous payday lender celebrated the closing of TWI, which speaks volumes about the work they [...]

  2. [...] Yesterday’s post about The Washington Independent folding spiked blog traffic by about 1,000 individual page views.   People are upset about the “dancing on the grave” comment. [...]

  3. [...] unkind post about an “alternative” newspaper and you get stuff like this.   As a lover of free [...]

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