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Originally Posted by NorCalGreg
"Another thing that shouldn't be allowed is these short term high interest rate loans, such as the one that Montel Williams hawks on TVG. You can get a better rate from a loan shark. But, finally state governments are doing something to protect consumers."
I thought people wanted LESS Govt involvement in their personal business?
The terms of these loans are CLEARLY spelled out--the Govt should protect people from THEMSELVES? There are sharks everywhere looking to separate a fool from his money--that's just the way life, society, and human nature is.
They gladly enter into these loans--then scream "predatory lender". Yes, they are usually a low-income group---but I suspect they are also generally a "low-IQ" group.
I don't apologize for NOT being a whiny liberal with handouts--everyone is responsible for themselves in my world.
-NCG
EDIT: I DO apologize for the content of this post--it doesn't actually belong in this thread
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You have to have government oversight because there are too many unscrupulous people out there. And don't forget, not everyone who falls for these things has a low IQ. How about senior citizens? Shouldn't they be protected? My mom turns 90 in a few days and although she's doing pretty good, she wouldn't have a clue if a company was trying to take advantage of her.
