Unlocking credit
December 31, 2008 | industry | Comments (1)That’s the key to the future of the economy according to this story in yesterday’s New York Times:
“Credit, the disposition of one man to trust another, is singularly varying,” Walter Bagehot, the financial journalist, wrote 135 years ago.
Payday lending customers pay back 95% of their loans when due. That’s a credit system that seems to be working.
