tag:blogger.com,1999:blog-3901123.post6242979161244846365..comments2024-03-15T03:20:38.106-05:00Comments on Brains and Eggs: Annise Parker and payday lendingPDiddiehttp://www.blogger.com/profile/05851660342241127485noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3901123.post-2119409533023941592013-02-09T23:53:33.301-06:002013-02-09T23:53:33.301-06:00Moneychangers and moneylenders aren't the same...Moneychangers and moneylenders aren't the same thing, Perry -- try getting a mortgage at IAH. <br /><br />The condemnation there was in profiting from religion. Jesus also drove out the guys selling doves. Do you really think God condemns pet shops?<br /><br />But hey, don't worry about the profit motive. You seem to know what the interest rate should be -- so set it at breakeven.<br /><br />What do you think the annualized default rate is, anyway?Matt Bramantihttps://www.blogger.com/profile/13970003130199066596noreply@blogger.comtag:blogger.com,1999:blog-3901123.post-84850531772512756352013-02-08T07:41:32.191-06:002013-02-08T07:41:32.191-06:00I think that's a worthy idea, Matt, although t...I think that's a worthy idea, Matt, although the greed motive would probably consume the person who begins with a little altruism in their heart.<br /><br />Not a big fan of the Jesus, as you are already aware, but I certainly agree with him about the money-changers.PDiddiehttps://www.blogger.com/profile/05851660342241127485noreply@blogger.comtag:blogger.com,1999:blog-3901123.post-47476770424114756522013-02-08T01:23:17.154-06:002013-02-08T01:23:17.154-06:00Why not open up a similar store and charge a fract...Why not open up a similar store and charge a fraction of the rate charged by payday lenders? Maybe a 15 or 20 percent APR would work.<br /><br />You'd help people you like (low-income folks) and punish people you don't (Straus and his "shylocks," really?) while making a modest profit and proving yourself right.Matt Bramantihttps://www.blogger.com/profile/13970003130199066596noreply@blogger.comtag:blogger.com,1999:blog-3901123.post-79897999889750985652013-02-06T16:11:30.453-06:002013-02-06T16:11:30.453-06:00"While Texas law technically prevents payday ..."While Texas law technically prevents payday lending, the Texas Legislature has maintained a loophole for predatory lenders that allows them to operate outside the law. Since 2005 most major payday lenders have used this loophole to brazenly ignore Texas usury laws. As a result of this loophole, while the number of states that have banned payday lending continues to grow, in Texas the industry is flourishing.<br /><br />"Texas-based lenders now charge among the highest interest rates in the nation, with up to <b>1,150 percent APR</b> routinely charged on payday loans..."<br /><br />http://shapleigh.org/news/3854--why-interest-rates-are-now-1100-percent-in-the-lone-star-statePDiddiehttps://www.blogger.com/profile/05851660342241127485noreply@blogger.comtag:blogger.com,1999:blog-3901123.post-83898796382424417992013-02-06T12:58:14.912-06:002013-02-06T12:58:14.912-06:00Does anybody know, in advance what kind of interes...Does anybody know, in advance what kind of interest rates these people are allowed to charge?<br /><br />Maybe some folks can't get bank loans, or don't have credit cards with a huge limit..<br /><br />But... neither can they afford an interest rate that is worse than "usury". JMHO.Elderladyhttps://www.blogger.com/profile/02268520056042293783noreply@blogger.com