Email a copy of 'The taxpayer as a pay-day lender' to a friend
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Published: July 14, 2009Posted in: Government
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Conservative to the core; liberal with his opinion! J.R. has been involved in politics for over a decade and has worked on several campaigns in Hampton Roads. He has served on the Executive Committee of the Republican Party of Chesapeake and the Central Committee of the Republican Party of Virginia. He is also the director of “Blogs United” in Virginia. E-mail J.R.. Follow J.R. on Twitter. 
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this is better than a bailout. i am absolutely shocked he didn’t offer that, after all, he is on his way out in a few months & doesn’t care about the Commonwealth anyway.
why wouldn’t I just get another credit card at a lower interest rate?
hey I appreciate the post!
You raise some great points that need to be addressed by our “governor”
I think this is using money donated by employees. The 25% interest rate is high but payday and car title lenders charge 350%.
Can we get an “I’m sorry?” I guess sometimes you can’t believe what you read in blogs…
1) I based my post off of report in the MSM – so if you would like an apology, please feel free to contact the Richmond Times-Dispatch which wrote: “Virginia is getting into the emergency-loan business”
2) I will gladly correct the record after I have done some research…you all know that I am a big proponent of that sort of thing. I have never failed to ensure the right information is posted.
3) Most of the post still is valid. You are focusing on the narrow taxpayer angle and failing to see that
– this is still government-advocated and government-driven
– it doesn’t correct the problem of employees needing short-term, high-interest loans
– it still fleeces the loan recipient at 25%; yes, it’s still lower than a pay-day loan, but it’s still damn high.
4) It’s always nice to be publicly called out by a friend instead of getting a friendly private email or phone call stating I might want to look closer at this subject.
It’s simply odd to see a Governor who has lambasted the payday loan industry so proudly announce he’s getting into the business.
Thanks very a ultra usefull site. You’ve helped me to make up my mind about payday loans. It perhaps interest you to know that I found an alternate site that agrees with what you’re saying here.