Random Feed wrote an interesting post today on
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There’s been a lot of finger-pointing lately about who is to blame for the untenable financial circumstances of many American families. Among the usual suspects–Wall Street quants, fly-by-night mortgage brokers, the households themselves–none is an easier target than payday lenders. These storefront loan sharks are portrayed by their detractors as swindlers preying on the desperation and ignorance of the poor. A payday backlash is already well underway–Ohio recently passed legislation capping

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Random Feed wrote an interesting post today on
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Last week, the Republic wrote an excellent editorial about the work of Muhammad Yunus. You will recall that Yunus won a Nobel prize for his work providing microloans so that the world’s poor would have access to capital. These small loans to some of the world’s poorest have the potential to alleviate the grinding poverty and desperation that can make people vulnerable to manipulation or recruitment by terrorists. These small loans also provide economic empowerment that can make staying at

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Random Feed wrote an interesting post today on
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Quick cash still carries a high price – Detroit Free PressDebt traps — including high-cost advances on a paycheck — are crushing many Michigan consumers. Cash-stretched consumers are dishing out up to nearly $36 just to get a $250 two-week payday loan in Michigan. Sadly, someone whose wallet is running on Source: www.freep.comThe Road to a Bailout They Don’t Deserve – Washington PostIt’s desperation time for the Big Three automakers. They are awash in gas-guzzling vehicles nobody wants to bu

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Random Feed wrote an interesting post today on
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If you grew up in the Los Angeles area, you know Nix, the ubiquitous hole-in-the-wall check cashing chain. If you grew up in the Los Angeles area and listened to the radio, you know the Nix jingle: At Nix Check Cash-ing, You’re Some-bo-dy Spe-cial! Like most people, I always assumed that Nix was a very effective purveyor of high cost financial services to the poor; that they exploit desperation and the lack/distrust of real banking for high fees. A recent New York Times Magazine article by Dou

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Random Feed wrote an interesting post today on
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That’s it, we have different decision in life! If a person wants to apply for a payday loan, why are we going to deprive him of what he wants? This is a democratic country, right? If you don’t want payday loan as your financial option then don’t apply for it. I’m not forcing you to do so. The problem with some consumers is that because of their desperation to have money they would just apply to any payday loan available in town without gathering first information that would guide them about the

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