Elizabeth Warren's Crusade to Nationalize Payday Lending Squeezes Native American Tribes

Townhall.com ^ | March 10, 2014 | Cathy Reisenwitz

[ladyjane]

But they offer a service that does help some people... It is very expensive to be poor in the US.

41% of families use these services - more than those below the poverty level. It's very expensive to be irresponsible in this country.

[AppyPappy]

You are talking about the same government that protects us from high interest rates. The Libertarian argument has already passed.

[cuban leaf]

41% of families use these services - more than those below the poverty level. It’s very expensive to be irresponsible in this country.

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Yes. And the irresponsibility, if unchecked, will make you poor.

[cuban leaf]

You are talking about the same government that protects us from high interest rates. The Libertarian argument has already passed.

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I’m talking about the constitutional argument.

[sportutegrl]

The government wants to take over payday lending for the same reason they took over student loans: to make money.

[ridesthemiles]

But nationalize them? That is absurd.”””

How about this being a trial balloon that is a prelude to nationalizing ALL the banks & Credit Unions?

A few weeks ago, there was talk about merging ALL the Credit Unions into banks.

Obama, Reid, Pelosi, et al, want all the PRIVATE pension funds in the USA 9into their own hands. 401’s, Keogh’s, Roth IRA’s, and other IRA’s are their targets. They won’t touch a union pension or a municipal type pension.

[ridesthemiles]

Review the years since Carter started the Community Reinvestment Act.

He pushed the banks to loan money ‘for a home of their own’ to people who didn’t qualify for purchasing a T-shirt on payments.

We all know exactly where that led. Most of us won’t live long enough to get back the equity we had in our properties.

[Kaslin]

Four digit interest loans? Wow, talk about loan sharks

[ladyjane]

Yes. And the irresponsibility, if unchecked, will make you poor.

Yes, and if the government keeps rewarding irresponsibility we're going to get more and more of it.

[cuban leaf]

Yes, and if the government keeps rewarding irresponsibility we’re going to get more and more of it.

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Duh.

;-)

[AppyPappy]

I will. Mine has doubled since I bought it....according to my tax statement.

[Pan_Yan]

This isn't about making money for the Post Office. If FedGov gets into the payday loan business they will begin making loans on future WELFARE payments; then forgive the loans.

It will be the Congressional Post Office scandal on a national scale. It will rank right up there with SSDI on the "most abused federal handout" list.

[FreedomPoster]

bfl