Payday loans are a poor option. No payday loans would be worse

The do-gooders at the Obama administration never do good.

Read this.

These borrowers aren’t incompetent and irrational bums, whatever federal regulators and consumer activists may imagine. They are mostly lower middle class, not poor. Nearly all are high-school graduates. Every one of them has a job and a bank account.

Obama’s unicorn-obsessed social engineers would put the payday loan industry out of business (destroying jobs at 20,000 locations), while simultaneously increasing the number of bounced checks, debt collections, and bankruptcies.

Hooray for liberals. Your read of the day.

About the author

Steve Berman

The old Steve cared about money, prestige, and power. Then Christ found me. All at once things changed. But the Holy Spirit produces this kind of fruit in our lives: love, joy, peace, patience, kindness, goodness, faithfulness, gentleness, and self-control. There is no law against these things!

I spent 30 years in business. Now I write and edit. But mostly I love. I have a wife and 2 kids and a dog and we live in a little house in central Georgia.

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