We had a line of those shops shut down up here in

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Post #266,386 by jake123 8/30/06 3:53:33 PM Reply	We had a line of those shops shut down up here in Western Canada because of usurious rates. Turned out that some folks were paying app. 1500% interest once all the charges etc. were calculated. They got shut down and had all their assets revoked. ... the main point being that in that "industry" 36% is considered the height of reasonable. It's a consequence of deregulating the banking industry. --\n-------------------------------------------------------------------\n* Jack Troughton jake at consultron.ca \n [link\|http://consultron.ca\|http://consultron.ca] [link\|irc://irc.ecomstation.ca\|irc://irc.ecomstation.ca] \n Kingston Ontario Canada [link\|news://news.consultron.ca\|news://news.consultron.ca] *\n-------------------------------------------------------------------
Post #266,391 by warmachine 8/30/06 5:16:05 PM Reply	So much for looking after their own. I would have thought any military would use favourable interests out of espirit de corps but mostly as it's in the service's interests to avoid individual, financial distractions. It's not as if they don't know where they are or can't deduct from source. Military services are not known for their compassion but they are known for policy through bureaucracy. 36% is actually policy? Does the Pentagon hate their men or something? Matthew Greet Choose Life. Choose a job. Choose a career. Choose a family. Choose a fucking big television, choose washing machines, cars, compact disc players and electrical tin openers. Choose good health, low cholesterol, and dental insurance. Choose fixed interest mortgage repayments. Choose a starter home. Choose your friends. Choose leisurewear and matching luggage. Choose DIY and wondering who the fuck you are on a Sunday morning. Choose sitting on that couch watching mind-numbing, spirit-crushing game shows, stuffing fucking junk food into your mouth. Choose rotting away at the end of it all, pishing your last in a miserable home, nothing more than an embarrassment to the selfish, fucked up brats you spawned to replace yourself. Choose your future. Choose life... But why would I want to do a thing like that? I chose not to choose life. I chose somethin' else. And the reasons? There are no reasons. Who needs reasons when you've got heroin? - Mark Renton, Trainspotting.
Post #266,398 by Ashton 8/30/06 7:14:28 PM Reply	Not hate, I wot - I doubt that they think of 'market forces' in other than some variant of ~ Vulture- 'capitalism' is about - 'the sheep shall be sheared' (and it's really OK to focus on the unsuspecting.) Deregulation is about - expanding the means by which the sheep may be more slyly sheared; allegedly, this is good for 'business'. But only if one defines business as - an asocial, amoral vocation, geared to test the limits of all laws, in its pursuit of financial advantage by all means discoverable. (So how could the military object to the mindset of a majority of those who fund it? Lavishly.)
Post #266,399 by jake123 8/30/06 7:59:57 PM Reply	This is not about the military charging those interest rates There are a bunch of little lending shops called things like Payday Loans and Instacash on corners that will lend you a few hundred bucks until your next payday for a fee. All you have to show them is a few stubs showing you can cover it when your checque arrives and they'll lend you the money. What is being proposed is that those shops have to "only" charge a maximum of 36% when the pay stub in question comes from the military, as opposed to the several hundred percent APR that they apply to most people for borrowing money for a few days (eg- typical terms would be borrow a hundred bucks and pay back a hundred and three bucks four days later -- do the math to find out what the APR of that loan is). --\n-------------------------------------------------------------------\n* Jack Troughton jake at consultron.ca \n [link\|http://consultron.ca\|http://consultron.ca] [link\|irc://irc.ecomstation.ca\|irc://irc.ecomstation.ca] \n Kingston Ontario Canada [link\|news://news.consultron.ca\|news://news.consultron.ca] *\n-------------------------------------------------------------------
Post #266,413 by warmachine 8/31/06 8:44:54 AM Reply	My mistake Matthew Greet Choose Life. Choose a job. Choose a career. Choose a family. Choose a fucking big television, choose washing machines, cars, compact disc players and electrical tin openers. Choose good health, low cholesterol, and dental insurance. Choose fixed interest mortgage repayments. Choose a starter home. Choose your friends. Choose leisurewear and matching luggage. Choose DIY and wondering who the fuck you are on a Sunday morning. Choose sitting on that couch watching mind-numbing, spirit-crushing game shows, stuffing fucking junk food into your mouth. Choose rotting away at the end of it all, pishing your last in a miserable home, nothing more than an embarrassment to the selfish, fucked up brats you spawned to replace yourself. Choose your future. Choose life... But why would I want to do a thing like that? I chose not to choose life. I chose somethin' else. And the reasons? There are no reasons. Who needs reasons when you've got heroin? - Mark Renton, Trainspotting.
Post #266,442 by jbrabeck 8/31/06 12:42:44 PM Reply	Or the bank overdraft charge of $33 for a $2.00 od, which is paid off immediately on the next clock cycle when the payroll check is credited. What't the APR for a "loan" that lasts only 1 second? A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort. (Herm Albright)
Post #266,443 by jake123 8/31/06 12:47:01 PM Reply	Not how these shops work, at least in Canada The longer the wait for your paycheque, the more you have to pay, so it is an interest rate, not a od charge sort of deal. --\n-------------------------------------------------------------------\n* Jack Troughton jake at consultron.ca \n [link\|http://consultron.ca\|http://consultron.ca] [link\|irc://irc.ecomstation.ca\|irc://irc.ecomstation.ca] \n Kingston Ontario Canada [link\|news://news.consultron.ca\|news://news.consultron.ca] *\n-------------------------------------------------------------------
Post #266,406 by boxley 8/30/06 8:44:40 PM Reply	well when I was in the Royal Navy many eons ago a 2 quid loan till payday was repaid at 2.25 quid on payday. What is that interest rate? No, it wasnt from the purser or postal savings bank. They wouldnt loan people like me a dime. thanx, bill Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 50 years. meep

Soldiers & payday loans - (dmcarls) - (18) - Aug. 30, 2006, 03:29:15 PM EDT

We had a line of those shops shut down up here in - (jake123) - (7) - Aug. 30, 2006, 03:53:33 PM EDT

So much for looking after their own. - (warmachine) - (6) - Aug. 30, 2006, 05:16:05 PM EDT

Not hate, I wot - - (Ashton) - Aug. 30, 2006, 07:14:28 PM EDT

This is not about the military charging those interest rates - (jake123) - (3) - Aug. 30, 2006, 07:59:57 PM EDT

My mistake -NT - (warmachine) - Aug. 31, 2006, 08:44:54 AM EDT

Or the bank overdraft charge - (jbrabeck) - (1) - Aug. 31, 2006, 12:42:44 PM EDT

Not how these shops work, at least in Canada - (jake123) - Aug. 31, 2006, 12:47:01 PM EDT

well when I was in the Royal Navy - (boxley) - Aug. 30, 2006, 08:44:40 PM EDT

Give 'em government credit cards instead - (imric) - (4) - Aug. 30, 2006, 08:52:38 PM EDT

'Finding Machiavelli' Award - (Ashton) - (3) - Aug. 31, 2006, 03:55:14 PM EDT

Re: 'Finding Machiavelli' Award - (dmcarls) - (2) - Aug. 31, 2006, 04:34:22 PM EDT

s/a/g -NT - (boxley) - Aug. 31, 2006, 06:54:48 PM EDT

Will keep last two \ufffds in mind.. - (Ashton) - Sept. 1, 2006, 06:38:17 PM EDT

The military does give loans.... - (tonytib) - (4) - Aug. 31, 2006, 01:56:29 PM EDT

I must have missed something - (drewk) - (2) - Aug. 31, 2006, 02:15:46 PM EDT

Yes, and... - (Yendor) - (1) - Aug. 31, 2006, 02:27:29 PM EDT

Check - (drewk) - Aug. 31, 2006, 02:32:40 PM EDT

I spent many years in Army Finance - (jbrabeck) - Aug. 31, 2006, 03:52:51 PM EDT

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