On Sun, 11 Sep 2011 20:23:31 -0700, "azotic"
wrote:

They're marketed under a different name, but a handful of major banks
already let customers borrow against their paychecks for a fee. And there
are signs the option may soon become more widely available.

Specifically: Fees that amount to triple-digit interest rates, short
repayment periods and the potential to ensnare customers in a cycle of debt.

With a traditional payday loan, for example, a customer might pay $16 to
borrow $100. If the loan is due in two weeks, that translates into an annual
interest rate of 417 percent.

http://www.google.com/hostednews/ap/...d0ab3933500769

I thought loan sharking was illegal.

Best Regards

Tom.


That is almost as disturbing as letting gambling spread out. What's
next? Free syringes at all gas stations... I've personally have seen
people blow both pay checks on gambling and then frequent pawn and
loan places. Bet someday soon they'll drop the indigenous requirement
for casinos.

I'm getting to the point of being more on edge when entering a bank,
than the employees and security people are. Like when I moved Butt of
Ass assured me that they have banks up here, even after I asked them
to double check for me, nothing, closest after an lengthy search was
Chicago. Took awhile to straighten everything out and on top of it the
other bank made things almost as bad. Even today I've spent over an
hour trying to straighten out my accounts on each trip. One time I
almost asked the banker to get out of their chair and let me take over
the computer cause they don't know jack. One time they put $3,000 in
my kid's savings account.

Guess the banks have out lobbied (booze, hookers, & $) the (not our)
lawmakers, now the daily loan center in the same strip malls can go
under to let the real crooks take over. Remember when people where
dressed up to go to banks and airports? Speaking of such things, I
miss when almost all of the stewardesses hot.

What's happen'n in this world? The other day I had a friend follow me
around my messy shop while I changed LP's then I gave him a look like
'what ARE you doing?' and he said the kids are so lazy now days that
they'd not listen to music at all if it took that much work to hear
it.


SW