I believe that the federal and/or state government should provide face-to-face credit counseling to consumers, for a nominal fee, or free of charge, to help those who are enslaved in high-interest debt to free themselves from these shackles.
South Carolina finally passed a bill limiting the practices of the predatory lending industry. I am glad for this, but feel strongly that these modern day loan sharks should out of business, permanently. In their place, we should have a sustainable minimum wage. Also, low income people should be helped to set up independent credit unions, charging low interest.
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Rob Neukirch
SpiritManSF
Texas Means Friends
Brian Carter
tr ig
Frances Ayers
Salon.com
Comments
Did you know that the whole minimum wage act was based on the idea that it provide at least a subsitance level of income for a family of four? It has completely devolved into you can't get away with paying any less to a legal resident or citizen. If you want to pay less then hire illegals and we'll punish them if they complain, and not you. To quote Jay Sherman, "It stinks!".