2016 Postmortem
Related: About this forumDebbie Wasserman-Schultz one of biggest recipients of money from payday loan industry
It's amazing to me that someone who supports loan sharking and takes money from this predatory industry could be head of the democratic party. You would expect it from a republican but not a democrat. The mafia would be proud.
Payday lenders throw millions at powerful politicians to get their way
http://money.cnn.com/2014/12/18/pf/payday-lenders-contributions/
cantbeserious
(13,039 posts)eom
Backwoodsrider
(764 posts)I liked her attitude when she first got on the scene but money has its hooks deep in this person she needs to quit and go back to rebuilding her family or some sh!t.
SoLeftIAmRight
(4,883 posts)sad
Depaysement
(1,835 posts)Poor people, working people and disproportionately: POC.
Frustratedlady
(16,254 posts)I see people go in and out and feel so sorry for them. Most are young women. They are obviously in dire straits and have the look of desperation. It is obvious they know that once the sharks have their hooks in them, they will never be free of these thieves, no matter how long they live. The government should shut them down.
cali
(114,904 posts)daleanime
(17,796 posts)another reason to dislike her.
starroute
(12,977 posts)They aren't just storefront level sleazebags. They're one more manifestation of inequality -- investors with loose cash looking for easy profits and an immiserated working class struggling to get by from paycheck to paycheck. A quick google turned up this:
http://www.bloomberg.com/news/articles/2014-09-04/secret-network-connects-harvard-money-to-payday-loans
September 4, 2014
Alex Slusky was under pressure to put the money in his private-equity fund to work.
The San Francisco technology financier had raised $1.2 billion in 2007 to buy and turn around struggling software companies. By 2012, investors including Harvard University were upset that about half the money hadnt been used, according to three people with direct knowledge of the situation.
Three Americans on the Caribbean island of St. Croix presented a solution. They had built a network of payday-lending websites, using corporations set up in Belize and the Virgin Islands that obscured their involvement and circumvented U.S. usury laws, according to four former employees of their company, Cane Bay Partners VI LLLP. The sites Cane Bay runs make millions of dollars a month in small loans to desperate people, charging more than 600 percent interest a year, said the ex-employees, who asked not to be identified for fear of retaliation.
Sluskys fund, Vector Capital IV LP, bought into Cane Bay a year and a half ago, according to three people who used to work at Vector and the former Cane Bay employees. One ex-Vector employee said the private-equity firm didnt tell investors the company is in the payday-lending business, where borrowers repay loans out of their next paychecks.
hobbit709
(41,694 posts)Snotcicles
(9,089 posts)Odin2005
(53,521 posts)What kind of evil person do you have to be to take money from the PAYDAY LOAN industry, some of the lowest, psychopathic capitalist parasites there are?