I would call this legalised loan sharking that targets the poor.
This says it all. This says what is wrong with the Western World that is ruled by banks.The 69-year-old American, who pocketed £7million in wages and bonuses last year, is the mastermind behind one of the biggest payday lending firms in the UK — targeting borrowers with interest rates as high as 2,670 per cent.
Former investment banker Weiss heads DFC Global, owner of more than 500 outlets of The Money Shop.
The outfit is also behind a clutch of pawnbrokers, the Cash-a-Cheque chain and internet lenders Payday UK and Payday Express.
Almost HALF of DFC’s entire worldwide revenues come from the United Kingdom and Ireland.
Read more: http://www.thesun.co.uk/sol/homepage...#ixzz2Fs8dsuEQ
The banks lend money at 0.5% or lower. The poor lend money at 2,670%.
How can this happen you might ask? It happens because of special interest money and power.
linkWealthy Wingnut Art Pope Steps Up to Screw North Carolina
You might recall this report from Rachel Maddow in August, 2009 at the height of the legendary Obamacare protests. She introduced her viewers to Art Pope, a name known only to those who ever bothered to follow the money. In the billionaire funders' universe, Pope is one that is rarely mentioned but has an enormous impact on the right-wing landscape. Here's an astroturf refresher:
Yes, elections have consequences, and North Carolina now has a hell of a consequence to contend with. Via the NewsObserver, this report about Governor-elect McCrory's appointment of Art Pope as "deputy budget director", a title invented for him by the soon-to-be governor of North Carolina.
Pope, who owns Variety Wholesalers, a retail chain that includes Roses and Maxwell stores, has been working as McCrory’s transition co-chairman. His new title will be deputy budget director, but that’s because by law the governor is the budget director. Pope will be the top staffer in developing the governor’s budgets.
Lets face it, the system of Govt is corrupt.
The SC with their C.Utd decision have only made things worse.