The last thing we need is more "feel good" regulation for politicians to tout as a reason to re-elect them.
America is about freedom: one of those freedoms is the right to choose what I do with the money I worked hard for. When you over-regulate products, you are telling customers that they are too stupid to make decisions for themself. In reality, it's the politicians and bureaucrats that are stupid. Politicians, banks, and Wall Street created the financial meltdown - not payday lenders.
And my guess is, for every dollar donated by a payday lender, banks and credit unions have contributed at least double. So good luck with the "pay to play" argument.
Corker shaping payday loan rules in financial reform package
The last thing we need is more "feel good" regulation for politicians to tout as a reason to re-elect them.
America is about freedom: one of those freedoms is the right to choose what I do with the money I worked hard for. When you over-regulate products, you are telling customers that they are too stupid to make decisions for themself. In reality, it's the politicians and bureaucrats that are stupid. Politicians, banks, and Wall Street created the financial meltdown - not payday lenders.
And my guess is, for every dollar donated by a payday lender, banks and credit unions have contributed at least double. So good luck with the "pay to play" argument.