I don't *fully* get the antipathy towards Wonga and these fast payday loan companies

[Monty91]

that charge exhorbitant interest rates. Are they really any more ethically dubious than many, many other companies that don't receive anywhere near such a hard time?

[Rich]

any way? Surely they can appreciate that providing small, short-term loans to the poor would not be a business idea that's going to make much money?

[Classic Jorge]

I get the anger towards payday loans companies as it's the practice that's offensive, the rolling over of debts which turn into massive, massive amounts of money very easily.

I dont get how the church thinks it can compete though, it's like they've decided a certain interest rate is morally fine whereas another isnt. I'd like more than anything if they just showed their workings.

[Classic Jorge]

[Peter]

Rather than slightly ripping off everyone?

I can see why they might attract bad press

[Hillary]

Essentially it is a business model that prays on the poor and, in the longer term, benefits from making these people worse off.

[Ashberto]

[Monty91]

these loans are in the minority, and the service as it stands works very well for the majority of users.

Why should these companies be expected to reduce their margins for the sake of an irresponsible few?

[Rich]

[Hillary]

[Peter]

And well put

[Classic Jorge]

[Rich]

A lecture from a lifeboat man on the tow back to harbour was not well received, let me tell you.

[Peter]

[Berni]

[The JBear]

[Monty91]

[Peter]

[eastgermanautos]

it's probably not as much of a priority in the uk. in the us, people do cling to that notion - even if stupidly - that things are getting better.

[Peter]

'We only ruin the lives of a minority of our customers' isnt the greatest marketing slogan

[Monty91]

to know precisely the tipping point for their rates at which most consumers will not use their service.

Certainly their profit sheet indicates they know what they're doing.

[Classic Jorge]

[Monty91]

[Classic Jorge]

[Rich]

they've read the terms and conditions and are made aware of what the repayments will be like.

They are lucky enough to live in a country where there are many benefits for those less well off and, failing that, charities that will help them out as well.

The fact that they've decided to live beyond their means to get themselves in a pickle is entirely their problem.

[Berni]

you might as well just give up on capitalism.

'Caveat emptor, motherf**ker!', as a great man once said.

[Hillary]

[Berni]

All of which have served to exploit greed, create poor health and lower standards everywhere.

Don't get me wrong: I don't have a problem with that - it's up to the consumers. But please don't lecture me on how the US believes in the improving society.

[Bergkamp's Brain]

[Classic Jorge]

[Berni]

Western democracy that kills its own citizens is what marks out the yanks as uncivilised, but for me the dead giveaway is the lack of a single decent cheese. :-(

[Bergkamp's Brain]

it so they are left with that oily, runny, squeezed from a can ****e. The ****ty stuff is also better advertised and cheaper.

[eastgermanautos]

was somewhat important.

[7evens]

Ripping the needy off at 3-4,000% APR is a truly dispicable act of exploitation.

[Ashberto]

You'll be claiming the steam engine next.

[eastgermanautos]

[eastgermanautos]

[Berni]

really germane to the argument. The argument is about some belief in improving society you are claiming the Americans have, but which the rest of us supposedly don't share.
Some of America's attitudes to issues of social improvement such as capital punishment, abortion, healthcare, religion and a range of other issues are - frankly - medieval by our standards. We all have our faults, of course, but I find Americans' inability to see the beams in their own eyes while pointing out the motes in ymthise of others is pretty irritating

[Classic Jorge]

[eastgermanautos]

areas. I consider 'rural' those places which are about five miles outside of either new york or los angeles.

[eastgermanautos]

course, which is why everybody's so pissy these days.

[redgunamo]

get their snouts into the same trough.

Disappointing, very. What a let down.

[Curly]

[Curly]

But that's your world,it sure ain't the real world

[Hillary]

[Camp Freddie]

[Camp Freddie]

[SOLMAN(read by millions)]

and high credit risk i don't see the problem , its borrowing £100 quid and given £120 back a month later , they perform a useful service

[Camp Freddie]

[Camp Freddie]

...the equation is likely to be go without food or debt!