PB what's your thoughts on the 25% reference
Is that accurate ? A way to maneuver around usury interest rate laws . I think NY is 30% annually like NJ
It could be a pre-emptive measure. NY and NJ were among the first states to deregulate PayDay loans.
Wonder if lit was done legit , via finance companies , that's the trend now anyway
My gut feeling is that as soon as the Feds have the resources to spare, they'll make the PayDay loans illegal across the board, and even the "friendly" offshore islands will be prohibited from making them.
And that's when small time shylocking will reappear (50 a week for 13 weeks on a five hundred dollar loan). That's a give or take number, by the way. But you know what I mean. And the Feds will start breaking balls there again.
This shit is a revolving door. It evolves, but the Feds are never that far behind. Like you say, a seventy-year-old goombah is still a better headline than a raghead shoe-bomber.
