World's biggest lie: payday loans help people.

[Democrats_win]

In 2005, Colorado led the nation in foreclosures. Payday loans are not helping us when it counts but is putting those who are most vulnerable at even greater risk of financial difficulty. Foreclosures continued to climb every year and they're up 40% this year. If Payday loans help, where is the proof?

As our state legislature considers putting minimal limits an this savage industry, the industry is fighting back. These payday loan scams claim they help people. "Hello, I'm from Payday loans; I'm here to help you.....at 350% interest!" They help no one but themselves. Usury, which is a term to describe charging high interest rates is considered immoral in many cultures. For what it does to our fellow citizens, it should be called immoral in this country too.

Saturday's newspaper said that even some Dems might not vote for this minimal protection for consumers. If this bill fails, this will prove that when it counts, Democrats become Republicans (see Ken Knighthourse Salazar). We either fix the terrible injustices of these financial fraud predators or we watch our economy and country die.

On the good side, if you're a victim of this economic fraud, you can go to the liquor store on Sunday and freeze to death in a drunken stupor. Amoral America.

[Hawkeye-X]

1. Yup.. Mom and I were talking about that the other day..

She was quite surprised on how many people fall for that shit... She works with a lot of people, and I'm hoping the state legislature will put a cap on those insane interests. And those places are springing all over Denver, and it's getting to a point where it's ridiculous. Fortunately, while I have debt to take care of, none of it is from the payday scams - My family has money and is taking care of us, and specifically told us not to try to get a loan from elsewhere.

Hawkeye-X

[BleedingHeartPatriot]

2. Holy shit. Thanks for posting. We need to know what's going on in our neighborhood.

Those payday loan places are everywhere in the Denver Metro area.

Thank you, do you have bill number and will this be introduced tomorrow?

[Democrats_win]

3. The bill # is HB 08-1126. I'm not sure where it's at right now.

Sorry it took so long to answer your question.

[Froward69]

4. Legalized Loan sharking

I wonder why the Existing loan shark law is never applied?

[backscatter712]

5. There's a bunch of those payday loan shitholes in my area.

If it were up to me, they'd all be firebombed.

Napalm sticks to usurers...