This release came in today from the Community Financial Services Association (Tommy Moore’s employers), which among other things cited the organization’s Quote of the Month:
“Why do we think we are helping adult consumers by taking away their options? We don’t take away cars because we don’t like some people speeding. We allow state lotteries despite knowing some people are betting their grocery money. Everyone is exposed to economic risks of some kind. But we don’t operate mindlessly in trying to smooth out every theoretical wrinkle in life.”
George McGovern
Former South Dakota Senator
1972 Democratic Presidential Candidate
Wall Street Journal
… which of course reminds me of something I didn’t like about McGovern, and which I had forgotten until I read that piece in the WSJ recently. Actually, it’s a problem I had with the Left of those days — they were way anti-government. We have a letter on tomorrow’s edit page from one of those people who considers motorcycle helmet laws to be the first step to totalitarianism (I am not making this up). Such folks would have been at home in the Left in 1972.
And such people are not considered to be liberals any more — in fact, some of the most fiercely anti-government types now actually claim to be "conservatives" — which of course is one of the many reasons why I insist that the "liberal" and "conservative" labels haven’t made sense for some time.
That aside, I find myself wondering — whom is this quotation intended to persuade? Certainly not the GOP majority over at the State House. Maybe Tommy and the gang thought sending this out to the "liberal" media might have a salutary (from CFSA’s point of view) effect.
If so, it didn’t work in my case. But maybe I’m not typical.
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Let me see if I can put a face on this. I realize that people who genuinely don’t have to worry about how to pay their bills don’t understand. Now, I am not trying to presume too much , but I don’t think some people who post on here really understand the concept of the “working poor.” (Read Ruby Payne)
I am a divorced mother of two. When my ex- decided to see someone else and left me with a high school senior and a middle school 8th grader, two mortgages, a car payment, insurance for cars, house, and children, not to mention utilities, credit card payments, medical bills…(I think you get the point), I had to do something.
In fact, I had actually been using check cashing services for several years because I was married to a man who felt that his paycheck was his and my paycheck was OURS. I am a teacher. Enough said, right? (I noticed with great interest the article in The State about teachers working two jobs…I work another job as well. So do my daughters who, thanks to Palmetto Fellows and student loans and scholarships are doing well.) My ex- has even decided in the past 6 years that if he doesn’t work at ALL, he doesn’t have to pay child support or alimony…especially if we don’t know where he is, but I digress.
I always knew the services were the wrong decision, but I had no choice. Yes, I know many would say I had PLENTY of choices, but they don’t know my situation. I have noticed that many have suggestions but no one totally understands.
And that’s my point: NO ONE KNOWS ANYONE ELSE’S SITUATION. But everyone thinks he or she knows what is best. Especially the state of SC… “Bring in the white charger and the knight riding upon it. We are here to save the day.”
I don’t know why George McGovern was quoted by the Moore’s people, and that is not the reason I post.
The legislators and writer who argue and posture against the check cashing business have YET to answer the question I have: HOW will any of their interference help me to pay the checks I have out and have to rewrite every two weeks NOW? Is there going to be a protection for those of us (and we are legion…) who have multiple checks out now? What is to stop these places from dunning us for payment of the total amount? That will bankrupt me…again.
Until I hear of an exit strategy for the thousands of us who are doing this, I am not interested in the legislating to stop the practice. And I have asked. And I have received no answer.
The only thing paramount in the minds of the legislators and news people is getting rid of the businesses. It looks good. It sounds good. It seems to satisfy some kind of need to help people.
But it’s missing a key ingredient. Help for those of us stuck now.
I await for the inevitable chastisement and suggestions.
Brad, I think the reason they included the McGovern quote is that the general perception of the WSJ piece has been one of “he’s come over to our side,” meaning someone generally considered an economic big-government liberal (from the Great Society/War on Poverty generation) has swung over to a more anti-regulatory view. So the payday lenders are saying, see, even somebody as leftie-populist as ol’ George McGovern has come around to our side. In this state it probably would have no effect, but elsewhere a few pro-regulatory types might take pause from reading his piece.
Those who want to read McGovern’s WSJ piece in its entirety can do so here.
It’s true that by today’s standards Nixon was not a true free market guy, seeing as how he instituted wage and price controls. But I don’t think you can say McGovern was way anti-government in general…certainly had he been elected he would have continued or increased many of the Great Society economic policies of LBJ, no qualms about the role of government in that sense.
The Left was not anti-government per se in 1972; it was anti-the-current-government-in-power, and for one very big reason. Well, actually, 58,193 reasons to be precise.
Tommy Moore was the guy who you thought would be a better Governor than Sanford, right? Still think that?
Thank you, Joanne, for your true life story. I hope your situation improves — I’m sure your attitude will be instrumental in making that happen. I am also disappointed that I see many of your colleagues working second jobs (many in retail) because our school administrations don’t understand that the core of our education system is teachers, not some new test or some magnet program. Maybe some day when the voters wake up and realize we don’t need multiple school districts per county, they’ll understand why we can’t attract and pay our teachers more.
We can’t pay teachers because we spend all the money on administration and new schools we do not need. Isn’t it interesting that most private shcools in this state are still using 1970’s facilities with little renovation and providing sound education. Real discipline and teachers (paid enough to live decently) and that care (control of the classroom is paramount)can solve a lot of our education problems.
How much have the banking lobbyists paid to put their payday lender competition out of business? If Warren Bolton and the other reformers were serious, they would be asking to reform the banks, who charge much more than the payday lenders.
Lee, that I agree with. The charges the banks make are unbelievable, and if I make a deposit after 2 PM, the bank I use now doesn’t even credit my money, cash or check, to my account until midnight of the FOLLOWING day.
Rarely do I make a deposit before 2 PM because I work a full day and can’t leave to go make a deposit. (I do use night deposit.)But if I cash a check, it comes out immediately.
I’m searching for a new bank. I’m considering putting money in my mattress.
The dirty little secret is that many of the payday lenders are financed by banks… the same banks which don’t want the expense of processing small personal loans…the same banks which charge $35.00 for an overdraft.
These banks find it easier to lend money to the payday lenders for a year at 67% interest and let their payday storefronts lend the money for 2 weeks at a rate of 300%. The banks pass along leads from everyone who bounces a check.
Many banks are owned by finance companies. These same finance companies own chains of furniture stores and appliance stores, too. That’s why they refuse to lend money to buy a refrigerator at $500 on sale at an independent retailer, but will finance the sale at one of THEIR stores for $900.
Brad, you jumped right over the part in his quote that talks about State run Lotteries. I know Payday Lenders were your entended target, but are you saying we should support a governmental body of hypocrits? Come on, the same legislators that like to get up and talk about how Payday Lenders are targeting the poor and reeking havoc on thier financial lives are the same ones that voted for the lottery that places sales locations STRATEGICALLY in higher concentrations in lower income areas. Promising these folks “The Big Win!” and adding the fine print “Play Responsibly”.
So you tell me, targeting one industry for personal/political interest (hypocrits) or do they REALLY care about the working poor and working class citizens?
Eddie, Brad has been a very outspoken critic of the State Lottery.
Thanks, bud.
Maybe Eddie ought to read Cindi’s column today on that subject…
Cindi’s column makes one big mistake in trying to link education performance to teacher/student classroom ratios. Those are the numbers that school administrators love to throw out as examples of educational progress when there is little proof that it matters.
I’m sure the majority of us grew up attending public schools where the student/teacher ratio was higher than 25 and probably closer to 30. Did we somehow receive an inferior education compared to those kids in classes where there are 21.2 students? I don’t think so.
My three kids experiences over the past 15 years have made it very clear that class size doesn’t matter – it’s the teacher’s ability to control the class that matters. One disruptive student can do more damage to the educational process than 5 additional students who are well behaved.
As for the lottery and how it’s used, I prefer it over an additional $250 million in taxes (which will more than likely be directed at people like me). The unfortunate thing is that the state schools have been able to increase tuition at a far greater rate than inflation thus making the lottery scholarship far less valuable. USC has several taxpayer funded lobbyists who ensure that the school gets what it wants.
Yeah boy, gambling will get you locked up – unless of course you are doing so through The SC “Education Lottery.” Just give the politicans another decade and you will find street drugs being sold over the counter with a fat tax stamp affixed.
Also, why should I be ticketed for not wearing seatbelts when motorcycle riders get a pass and taxpayers are forced to pay for the idot lying in ICU on a ventillator because he got his brain scrambled??
Public education is The SC Education Lottery.
“One disruptive student can do more damage to the educational process than 5 additional students who are well behaved.”
So isn’t the problem how we let the teachers deal with the disruptive students? If they can’t get them out of class because the principals and districts won’t let them… how is that the teachers fault?
“Did we somehow receive an inferior education compared to those kids in classes where there are 21.2 students?”
No. This generation is receiving a poorer one regardless of class size because their parents generation as a whole is failing them as parents.
But it is moronic to say that, behavior being equal, class size doesn’t matter. (Unless you are arguing that more flexibility, custumization, and individual attention shouldn’t help things…)
What parents?
71% of blacks are born out of wedlock.
35% of black children have a parent who has spent some time in the prison system.
Class size is a factor, but someone forgot to tell USC, with its 200 students crammed into auditoriums “taught” by foreign grad students who can barely speak any English.
My average class size in high school was 28 students. 4 attended Harvard on scholarship. Others include 2 surgeons, 6 small business millionaires and one astronaut.
And then we have the problem of those black students who graduated in the 1960s from classes of 40+ and became astronauts, physicians and MIT professors…before while liberals “saved” their schools. How is that possible?
> But it is moronic to say that, behavior
> being equal, class size doesn’t matter.
Really? Moronic, huh? Prove it. Show me some evidence that a class of 25 well behaved kids is somehow getting a lower quality education than one with 21. Have you actually been in a classroom in the past decade??
Individual attention? Customization? Flexibility? Please tell which school has that… If anything, all they get now from K-8 is cookie cutter test prep.
Class size is a red herring. Smaller classes = more teachers = more schools = increased taxes. We’re paying more for
the same thing.
And “justsayin” — if you have kids, please tell us their ages and what schools they attend. You can still hide behind your fake name.
“. how is that the teachers fault?”
And where did I say it was the teachers’ fault??? I said it was a school administration ploy used to try and convince parents that smaller classes somehow equals better education. It doesn’t. Especially when they can’t control the kids.
Bud and Brad,
My point was not with the Lottery or Brad’s position with the Lottery, but the hypocrisy in our government. Read a little closer next time guys.
Lee: And there aren’t any absentee white parents? Is there any reason except racism to only pick on the minorities?
Doug: I _defy_ you to pick a class of 200 students taught by a graduate teaching assistant at USC who has trouble speaking English. If you can, I’m sure the Daily Gamecock would love to make hay with it and the department will be forced to address the situation. (Or is it just easier to blow smoke here?)
Teach? I’ve taught classes from 5 people to well over a hundred every year for the past decade and a half. You? Of course you can do things with five you can’t do with hundred. Is 21 vs. 24 a big differnce? Probably not. How about 20 vs. nearly forty? Surely the difference comes in somewhere. The question is where… and once we find out we can get the right number of students per teacher.
Customization? Montessori programs.
Where did you say its the teachers fault? Doesn’t “it’s the teacher’s ability to control the class that matters” imply that if there is no control its there fault?!?
Yes, there are white children born out of wedlock and kept in poverty by single parents. But nothing like the black children…. and the subject was black children, and how their parents had be involved.
That was I who gave the example of the class of 200 at USC taught by a foreign grad student who could barely speak English. It was Physics 201. I withdrew and took it at Clemson in a class of 15, from a PhD.
Lee – I’m sorry for the misattribution there.
I’m even sorrier for the experience in your physics class. That is inexcusable – and I know that the University has worked very hard over the past several years to ensure that all of the graduate teaching assistants are well trained and qualified in the subjets they are teaching. I strongly encourage anyone who has concerns about the quality of instruction by a teaching assistant to raise your concerns with the graduate director or department chair of that department. The department should be eager to provide assistance to that teaching assistant to improve the quality of instruction (or remove them from the classroom if they can’t). If the department refuses to help or provide an explanation for their seeming inaction, please contact the Graduate School and ask for the dean in charge of insuring teaching assistant training.
I already asked Dr. Sorensen in a public forum how he intended to create a “research campus” when most of his graduate students are foreigners, and he has abolished all the part-time graduate engineering and business curricula which provide connection to industrial R&D. He had no answer, apparently having never thought about it.
Their is no excuse for any class being larger than 40 students, as high as tuition is. And there is no excuse for tuition increasing at a rate several times as fast as family incomes. It is obvious mismanagement and lack of concern by administrators and faculty which would never be tolerated in the private sector.
Many of the graduate students in the sciences are foreign because there aren’t enough American’s applying. The sciences require math (turning off many Americans) and stereotypically don’t pay as much as business, law, or medicine. You might even be able to FOIA some department to get the breakdown of nationality and test scores and the like.
Tuition is only as high as it is because every time state funding was slashed in a bad budget year, the money had to made up from somewhere. Is there another solution? Letting faculty go would _kill_ the University unless all of the other states were doing it to. Cutting pay similarly wouldn’t work either unless all the other universities stopped. In the sciences faculty already make significantly less than industry. They keep working at the U because they feel the lower salary is worth it to do the research and teach. If it drops to low, they’d leave.
One reason for large classes is lack of money. It is interesting that the vast majority of classes that are larger than 49 or so are on material that is covered in high school. A trivial way to get rid of the large classes then would be require students at the states flagship school to come in more prepared, or transfer in after taking those classes at a tech school.
“And there is no excuse for tuition increasing at a rate several times as fast as family incomes… which would never be tolerated in the private sector.”
They’ve been increasing pretty quick at the private schools too, haven’t they? (And aren’t the salaries higher there than at the public ones?)
Private schools are manned by the same population of academics who ruined public colleges. At least they have endowments to give scholarhips. Public colleges just load up students with loans, flunk a bunch of them out and get a fresh batch. The last time I checked USC, 35% of the freshmen and sophomore classes were remedial high school stuff, for people who never should have been admitted.
Don’t give me that bunk about “cutting funding”. A real cut is a reduction from the prior year, not giving less than the irresponsible faculty demanded.
USC is loaded up with government-subsidized foreign students because the are easy pickings for the faculty. Serving American students would require night classes, weekend classes, lower tuition, etc. And working students from industry know too much to quietly tolerate BS from faculty trying to fake their way through.
But USC apparently isn’t serious about Americans as their customer, or they would change to attract the customer – the way Stanford, GA Tech, Duke, NC State, and UNC do.
“A real cut is a reduction from the prior year, not giving less than the irresponsible faculty demanded.”
There have been at least two real cuts in the past decade (not even counting for inflation). Accounting for inflation, state support of USC is only a fraction of what it was in the past. All of the records are public if you’d like to check.
“Serving American students would require night classes, weekend classes, lower tuition, etc. ”
Several departments at USC offer classes by streaming video or in the evening to those who work. A simple perusal of the course catalog each semester would show that.
“Stanford, GA Tech, Duke, NC State, and UNC do.”
They have offering schedules and student body compositions fairly similar to USC. They do however have much higher per student spending than USC.
Since the actual numbers and facts won’t change your impression of whats going on in the world… and also clear you’ll post something inane to have the last word (go ahead, prove me wrong and don’t post another ranting response), not really any point in me checking this thread again as it gets buried.
Appendix 1 – State Appropriations by Year for USC, demonstrating two significant drops this decade. As found in the USC factbook at the school web-site.
FY 2005-2006 $161,654,844
FY 2004-2005 $153,134,454
FY 2003-2004 $150,247,409
FY 2002-2003 $168,272,872
FY 2001-2002 $188,630,842
Appendix 2: Distance Education Classes at USC for Fall 2008 http://registrar.sc.edu/html/Course_Listings/deis/200841shortDept.htm
and evening courses
http://registrar.sc.edu/html/Course_Listings/Evening/200841shortDept.htm
Appendix 3: 33% foreign grad students at Stanford (the first one you list) 10.3% at USC (both based on the respective University fact books)
Your examples are not engineering or business.
USC has no part-time MBA track, like Duke, Wake Forest, and UNC do.
USC abolished its part-time APOGEE program for working engineers to obtain an MS or PhD.
The spending figures which count are the total per student spending and the total costs to the student each year. Those have increased 2 to 4 times the rate of general price inflation and family incomes.
In the 1960s a student could earn enough at minimum wage in the summers to pay cash for the entire next school year. Not today. Why? Poor administration, lavish salaries, retirement, benefits, and building programs.
I am very unhappy with the way the compromise on the payday lending bill is working out. I feel that it is a smoke screen and a victory for the payday lenders. The typical payday loan is over 390% APR but they hide that by saying it is “$15 on every $100 borrowed…that’s only 15%”….yeah, but it has to be repaid in TWO WEEKS….there are just over 26 two week periods in a 365 day year. 26.07 X 15 = 391.05….or an APR of 391.05%
They argue that if interest is capped at 36% APR, they will only make less than $1.40 per two week loan per $100 borrowed and that would put them out of business. REALLY? My Capital One MasterCard is at 12.9% APR. That is a daily periodic rate of .0354% (or .000354). Multiply that times 14 days and that times $100 dollars and, you know what, Capital One only makes 49.5 cents or $0.495 off of my $100 dollars…how DO they stay in business….they must be ready to fold!!!!
Since my Wachovia Visa is at 9.9% APR, they only make 38 cents or $0.38 off of me in the same period. What schmucks! With business practices like that, they sure won’t be around long!!!
You know, the profit margin at Wal-Mart is only 3%. What idiots…I bet they’re about to fold, too!
According to the August 9, 2006 “Report On Predatory Lending Practices Directed at Members of the Armed Forces and Their Dependents” prepared by the Department of Defense and delivered to Congress: “Predatory lending undermines military readiness, harms the morale of troops and their families, and adds to the cost of fielding an all volunteer fighting force” (p.53).
So…the Department of Defense has determined that payday lending weakens America’s defense…not some namby-pamby “Liberal” “save the poor” group….but the gosh-darn PENTAGON!!!
The 2007 National Defense Authorization Act, passed by a bi-partisan Congress and signed into law by a Republican president, caps payday loans to members of the military at 36% APR. So it’s good enough for the men and women who risk their lives for America, but not for the average citizen in South Carolina?
As to the claim that there would be no alternatives, numerous programs have cropped up around the country, especially at credit unions, that mimic the ease and quickness of a payday loan. Here is one that has already started in SC: http://www.familytrust.org/V-F.php
The ones in other states (where payday lending have been banned) are even easier to deal with.
I would far prefer a 36% cap (like the nat gvt imposed for members of the military). This is not a ban. Yes, it may put the payday lenders out of business….but short term, “signature” loans (requiring little more paperwork than a “signature”) would still be legal. Perhaps you could couple it with legislation that facilitated programs such as that of Family Trust Federal Credit Union (that I previously mentioned) or programs such as these below (which took a whole 12 seconds of googling to find).
http://www.cdcu.coop/i4a/pages/index.cfm?pageid=902
http://www.ohiocul.org/article/2198.htm
http://www.cutimes.com/section/lending/36460
By the way, the Bible has a word for what these people do: usury. And it is forbidden:
http://www.biblegateway.com/passage/?search=Exodus%2022:25;%20Leviticus%2025:35-37;%20Deuteronomy%2023:19;%20Psalms%2015:5;%20Proverbs%2028:8
In case you haven’t figured it out, in my opinion payday lenders are rip-off artists who scam the desperate, disadvantaged, and needy. Take a gander at the book “Shortchanged: Life and Debt in the Fringe Economy” by Howard Karger for a great look at the whole EZ credit industry (payday loans, rent-to-own, title loans, etc):
http://www.amazon.com/Shortchanged-Life-Fringe-Economy-Currents/dp/1576753360/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1203520003&sr=1-1
Many thanks and I apologize if this sounds like a rant, but this comes straight from my beliefs as a Christian that we should try to emulate Jesus, especially with regard to “the least of these.”
–Scott
Just,
It is the school district administrations that promote the decrease in class size by one or two kids. They present that fact as an indication of improved education experience.
Do you have an example of customization in public schools — which is what I have been talking about. Customization consists of:
“Choose one of these three topics to write about”.
Yes, there are teachers who cannot control classes. My kids have had them. Recently. In some cases it is their fault. In most cases it is the fault of parents who take the kids side and administrators who refuse to punish repeat offenders out of fear of lawsuits. The point anyway was that class size is less important than class behavior in terms of educational experience.
I have also taught classes to adults over a hundred times (one day technical training). All it takes is one person to mess things up for the whole class.
Doug,
If you or I were in charge, we would ask for:
a list of classes which administrators claim are “too large”,
the size they want,
an analysis of how they arrived at this figure,
the expected results of this smaller class,
who will be removed and why,
where the students will go,
the impact on those students and the class to which they are sent,
the total costs,
…. and we would have an independent audit of the results, so everyone could learn from their mistakes.
Have you EVER seen a public school or college provide such information, which is common practice in private industry?
Google seems to have no trouble pulling up studies on class size effects:
http://www.futureofchildren.org/usr_doc/vol5no2ART8.pdf
“lavish salaries” – How much do you think somoene with a Ph.D. and ten to thirty years experience who performs well should get paid per year? (In several fields an assistant professor with four years experience makes less than what a new M.S. student will make in industry.)
“The spending figures which count are…” – In other words, what counts changes when I show you were incorrect about what you previously asked for? (Just making sure I understand the rules.)
I am talking total spending and total costs to the students from 1968 to 2008. Your feeble retort is to pick 2 years where part of the funding was reduced by the legislature.
Rep. Harry Stille, PhD, did studies on the salaries of professors and the number of them teaching no classes at any given semester (about 800). The salaries are now online.
I don’t have a problem with paying comparable salaries to industry. Just get rid of the under-the-table perks, non-cash benefits, and deferred compensation. The fact that so many professors retire as millionaires and that the medial private pension fund is $550,000 shows that they are being paid better than the average private worker.
Bottom line: if the administration cannot keep costs in line with general price inflation, they have failed as managers.
“Your feeble retort is to pick 2 years where part of the funding was reduced by the legislature.”
You said it hadn’t happened, I showed you you were wrong about that particular point.
“Just get rid of the under-the-table perks, non-cash benefits, and deferred compensation.”
What perks, non-cash benfits, and deferred compensation do faculty in the sciences get that Ph.D. holders in the sciences in industry don’t? (Unless your median private pension was only for Ph.D. holders the comparison isn’t entirely relevant).
“Bottom line: if the administration cannot keep costs in line with general price inflation, they have failed as managers.”
Sure, assuming the services provided hadn’t improved (like having computers and indoor plumbing and a greater variety of majors to better prepare them for the various careers they might want).
Colleges don’t increase their prices at 2 to 3 times the rate of family incomes because their faculty is increasing is productivity and quality that fast.
They increase prices because they collude and have so much of the market controlled by government. They can get away with it… period
[“What perks, non-cash benfits, and deferred compensation do faculty in the sciences get that Ph.D. holders in the sciences in industry don’t?”]
* Much shorter work week. Private sector is 56 hours in the office.
* Retirement paid by employer on top of salary. Fewer than 15% of private sector get this.
* Tenure. Many private sector PhDs are independent contractors. PhDs are among the highest unemployed rates overall.
* Lack of job performance standards compared to private sector.
* Time off with pay to do research or whatever. Only a few at IBM ever got this, and it has been eliminated almost everywhere.
* Pay with no workload (no teaching)
[” (Unless your median private pension was only for Ph.D. holders the comparison isn’t entirely relevant). ” ]
Baloney. It is very relevant. TIAA-CREF pensions average over $550,000 for everyone, from public school teachers to Harvard PhDs. They have to be making a lot of money to be able to fund pension plans that large. Many are well over $1,000,000.
When the Democrats were in control of Congress, only the very highest income groups could fund their own private retirement. There were no IRAs for most people, because you couldn’t have one if you made over $35,000 a year, and the limit was $1,500 a year.
Republicans have reformed a lot of it with Roth, Simple IRA, 401-k, etc, but we have a way to go to put everyone on the same legal footing, all private accounts. And we have to abolish Social Security so more people will have that money to fund a real retirement plan for themselves.
I agree that we cannot take a way the option consumer because nevertheless a lot of consumer will be affected not only to the poor one but also for everybody especially now a days in our economic conditions.
Do we take consideration for those in the middle class, and to those who are less fortunate one’s let take a look to the reality that everyone we suffer in their economic constraints. We cannot deny the fact that even the rich one’s can feel the financial constraints in the country.
Even we cannot think to loan but through the necessities we are push through it. A cash advance, sometimes referred to, as a payday loan can be just what
You need when you’re in need of temporary financial assistance.
First of all, they are obtained securely, are available to almost anyone with a checking account and a steady job and are wired without the hassles of credit checks.
Best of all, you have your money in minutes and the application process is easy and painless.
So, if your financial situation calls for a low fee payday loan, log on and apply now. http://personalmoneystore.com/moneyblog/
Being misinformed can muster some grave consequences, especially true when you base a course of action on inaccurate information. The current debate over the pros and cons of payday loans, and what the future holds for the industry, is certainly no exception. Some politicians, from all sides of the spectrum, have even passed legislation in their states, cities and towns which restricts, or even takes away your ability to get a payday loan. Some, such as Barack Obama, are seeking to outlaw the industry all together; such laws are largely based on the flawed idea that payday lenders fall under the same ethics as illegal loan sharks. Now is the time to educate your friends and family to preserve your rights to financial independence.
Post Courtesy of Personal Money Store
Professional Blogging Team
Feed Back: 1-866-641-3406
Home: http://personalmoneystore.com/NoFaxPaydayLoans.html
Blog: http://personalmoneystore.com/moneyblog/
Being misinformed can muster some grave consequences, especially true when you base a course of action on inaccurate information. The current debate over the pros and cons of payday loans, and what the future holds for the industry, is certainly no exception. Some politicians, from all sides of the spectrum, have even passed legislation in their states, cities and towns which restricts, or even takes away your ability to get a payday loan. Some, such as Barack Obama, are seeking to outlaw the industry all together; such laws are largely based on the flawed idea that payday lenders fall under the same ethics as illegal loan sharks. Now is the time to educate your friends and family to preserve your rights to financial independence.
Post Courtesy of Personal Money Store
Professional Blogging Team
Feed Back: 1-866-641-3406
Home: http://personalmoneystore.com/NoFaxPaydayLoans.html
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Elite politicians, including presidential candidate Barack Obama, are trying to limit access to on-demand, short term financial assistance in America. Some cities and towns are even placing restrictions on where these legitimate payday loan companies can establish their businesses. Even worse, several states including Georgia and North Carolina have successfully imposed complete bans on the payday loan industry, and several more states are following in their footsteps. Nationwide, American citizens are struggling to have their voices heard. They want to fight legislation that would wipe out the payday loan industry in the United State. Obama, and many other misled political officials, are advocating for an all-out ban of the payday loan industry for the sake of personal political gain. Their desire to eliminate the payday loan industry holds no regard for the people who need financial help in this depressed economy.
Every Presidential debate in the era of television is quite the news item. Many Americans watch in order to gauge which candidate is going to pursue policies that they feel are best, in order to find out who it is they think they should vote for. Many voters today in America are becoming or have become disillusioned with our leaders and the political process, and so watch things like the debates with limited expectations, knowing that direct questions will most likely not be answered, and will sound like sound bites. The major newspapers, such as the New York Times and the Boston Globe, hailed the debate as having “forced cordiality” and being “mercifully free” of personal attacks, and that was very true; neither candidate resorted too much to character assassination. McCain continued with “staying the course” and pursuing domestic drilling policies. (Hmmm….I wonder just who he was listening to on that one.) Obama was still criticizing Republican policies which he says got us into this mess of a recession in the first place. If the election were based on the performances on the debate , there’d be no clear way to say who it was that had won. America needs a clear proposal for action. Obama’s views on “predatory lending” which basically is sanctioning payday loan lenders is not a real solution. It’s basically an appeal to the banking lobby.
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The Arizona Credit Union System evidently wants the payday advance industry in the state to dry up and die. Their position is likely fueled entirely by self interest, and they are stepping up its lobbying efforts in order to drive the competition out and get their hands on their customers. The Arizona Community Financial Services Association is one of the organizations vying to pass Proposition 200, which will regulate the industry in the state, reforming the industry into a completely legitimate and regulated industry, which will benefit the businesses, but most of all the consumers. The bill will lower loan fees, create far more flexible repayment plans, and put greater restrictions on physical stores and further regulate the online lenders. These are real reforms, and they benefit the consumers, but they also will stave off the doomsday clock for payday loan lenders in the state, set to expire in 2010. Does anyone really think that ANY state in can afford to create more unemployment?
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Ohio Governor Ted Strickland has a new companion to support, offering a solution as his opposition to the payday loan and cash advance industries amplify. He’s fighting on behalf of the state’s community of gamblers. In effect as of August 1, 2008, but being disputed by the people on the November 4 state ballot, Strickland says this is a heroic effort to raise money for their public schools. Strickland has defended his views on several occasions, claiming this one’s best for the common good for our children. Despite the massive criticisms from all walks of life, including members of his own parish, he continues to dig up ways to shield his idea. Parts of his proposal would revise the state constitution to authorize the construction of a $600 million casino near Dayton. This proposal is giving many people a more vivid picture of the state of Ohio’s economy. So let’s get this straight. Governor Strickland is telling his citizens to go out and gamble away their rent and mortgage payments for the sake of their children’s future. Then, after gambling away all our money, when we experience a pinch in our budget and are unable to buy the necessities for our children, Strickland says we should NOT resort to getting temporary funds from a payday lender to help make ends meet. Seriously, there is no sense in that.
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