Dear Governor Strickland
I am totally behind your efforts to close all these "pay day" loan stores across the state.
These stores have sucked money out of poor people's hands for years now. Never mind that the state has extracted more money from poor people through the lottery & cigarette and alcohol taxes but it's obvious that we can't have private businesses such as JB Byrider, Jackson Hewitt and HR Block (which we also want you to close soon) cater to that segment of the population.
For those people who think that this segment of society won't have access to short term loans, they need not worry. I have full faith that our capitalist society will come up with many ways to serve this group of people.
In fact, I've got a crew all ready to supply loans to people who are strapped for cash.
Sincerely,
Carmine Corleone,
"Independent Businessman"
Youngstown
2 comments:
Hey, who was the politician that demanded a lower interest cap that even Strickland wanted? You know the change in the bill that made the industry say it would kill them in Ohio?
Wasn't that House Speaker Jon Husted, a Republican? How many Republicans voted for that bill, too?
If you've read this blog, I've mentioned on numerous occasions about people who have call themselves "conservatives" like this legislation. Nix Guy and Bizzyblog both like this stupid regulation.
Republicans are not beyond being dumb asses.
I'm tired of being the defender of this type of business. But I will always be the defender of common sense.
Will liberals show up to help someone go get their car when it's repossessed when this type of loan may have been just what would have prevented such a thing?
Have you ever had to get your car out of hock? It's a hell of a lot more than the hundred bucks in interest one of these places charge.
Are you going to pay for someone's $33.00 bounced check fee and $6.00/day overdraft fee?
That would be a big fat No.
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