Preditory Lenders Unite!

[fencesitter]

Elizabeth Warren posts on her blog...(http://www.tpmcafe.com/blog/warrenreports/2007/nov/13/predatory_lenders_unite#comment)

Predatory Lenders Unite!
By Elizabeth Warren
At last, a website for predatory lenders! A place to get together to swap ideas about how to maximize profits, tips on racial profiling, and ways to get around the new laws insulating military families from payday lenders. There is a handy fee calculator, so a novice predatory lender can make sure it is getting the most out of its predatory loans. There's even a blacklist.

Most of all, this is a place to combat the public's misunderstanding that predatory lending is bad.

Check it out. The site is wicked.

http://www.predatorylendingassociation.com/

"The Predatory Lending Association (PLA) is dedicated to extracting maximum profit from the working poor by increasing payday loan fees and debt traps. The working poor is an exciting, fast growing demographic that includes: military personnel, most minorities, and a growing percentage of the middle class."

Is this for real?? Gotta be a joke, But.. Maybe not

[eagler]

1. It's a joke. look at the anti-Bush book advertised

[fencesitter]

4. Yes, it's a satire...

But alot of work went into it, and it's so true.

[doc03]

2. These payday loan sharks should be put out of business

I live on the West Virginia/Ohio border. In West Virginia they have had the slot machines for several years and just recently they got table gaming. In Ohio we make our money at the payday loan outfits(apparently they are illegal in WV) loaning money to the people that loose their pay at the casino. I went to the casino one day last week (they do have good food there, I am to cheap to gamble) I would say 80% of the people are on SS or SSI the rest are just plain dirt poor. It just makes you sick watching these people sit and gamble all their money away and what's worse the state of WV sponsors the damn thing. I don't know who is worse really a state that takes advantage of them or the loan sharks.

[soothsayer]

3. The site is prolly a joke, but the principles are real and are what fed the

subprime nightmare.