After Receiving Bailouts, Big Banks Financed Payday Loan Stores

[Smaland]

A new '... report dubbed, “ The Predator’s Creditors,” seems to be a way to shame banks into thinking twice about their ties to the payday loan industry. It includes diagrams illustrating ties between Wall Street executives and payday lenders and a table that lists recipients of Troubled Asset-Relief Program cash that have provided financing to payday lenders.

Although I was in this store for another purpose, I saw a sign on the wall that stated that it charged 417% APR for loans.

Wells Fargo the Leader in Payday Lender Financing

[lei.talk]

http://en.wikipedia.org/wiki/Advance_America

http://www.checkngo.com/

http://www.checkintocash.com/

http://www.acecashexpress.com/

http://en.wikipedia.org/wiki/Cash_America_International

http://www.qcholdings.com/

http://www.dfg.com/default.asp

http://en.wikipedia.org/wiki/EZCorp

http://www.alliedcash.com/

http://www.firstcash.com/

http://en.wikipedia.org/wiki/Moneytree

http://en.wikipedia.org/wiki/Wells_Fargo

http://en.wikipedia.org/wiki/U.S._Bancorp

http://en.wikipedia.org/wiki/JPMorgan_Chase

http://en.wikipedia.org/wiki/Bank_of_America

http://en.wikipedia.org/wiki/Credit_Suisse

[poiuytrewq0987]

Whoever borrows from one of those loan centers deserves to be ripped off.

[poiuytrewq0987]

The road isn't so different for people with money. Like people who want more power, they want more money.

[Loki]

Whoever borrows from one of those loan centers deserves to be ripped off.

Why? Some people have no other choice in their situations.

[poiuytrewq0987]

Why? Some people have no other choice in their situations.

Borrowing from one of those centers when you're bankrupt merely prolongs your bankruptcy. That's just the way it is.

[Loki]

Borrowing from one of those centers when you're bankrupt merely prolongs your bankruptcy. That's just the way it is.

Not all people in need are bankrupt totally. That's a gross generalisation.

[RoyBatty]

The Real IRA explained the system financially enslaving the West quite well.

In an attempt to tap into the intense hostility towards the banks on both sides of the Irish border they branded bankers as "criminals" and said: "We have a track record of attacking high-profile economic targets and financial institutions such as the City of London. The role of bankers and the institutions they serve in financing Britain's colonial and capitalist system has not gone unnoticed.

"Let's not forget that the bankers are the next-door neighbours of the politicians. Most people can see the picture: the bankers grease the politicians' palms, the politicians bail out the bankers with public funds, the bankers pay themselves fat bonuses and loan the money back to the public with interest. It's essentially a crime spree that benefits a social elite at the expense of many millions of victims."

http://www.guardian.co.uk/uk/2010/se...-banks-bankers