Comments on: New Anti-Usury Movement http://www.chrisweigant.com/2009/07/23/new-anti-usury-movement/ Reality-based political commentary Fri, 08 May 2026 01:45:08 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: nypoet22 http://www.chrisweigant.com/2009/07/23/new-anti-usury-movement/#comment-5560 nypoet22 Thu, 30 Jul 2009 18:10:48 +0000 http://www.chrisweigant.com/index.php/2009/07/23/new-anti-usury-movement/#comment-5560 i think a fairer solution that people could really get behind would be to outlaw the compounding of interest on loans that have reached a certain percentage above the principal. let's say 30% for example. the banks would still scream bloody murder and predict the end of the world, as they do whenever someone proposes a restriction that stops them from squeezing every last drop of blood from consumers. but goodness knows, there still ought to be a way to make it happen. i think a fairer solution that people could really get behind would be to outlaw the compounding of interest on loans that have reached a certain percentage above the principal. let's say 30% for example.

the banks would still scream bloody murder and predict the end of the world, as they do whenever someone proposes a restriction that stops them from squeezing every last drop of blood from consumers. but goodness knows, there still ought to be a way to make it happen.

]]> By: fstanley http://www.chrisweigant.com/2009/07/23/new-anti-usury-movement/#comment-5509 fstanley Fri, 24 Jul 2009 20:24:55 +0000 http://www.chrisweigant.com/index.php/2009/07/23/new-anti-usury-movement/#comment-5509 You can have regulation and oversight and still make a profit but it is never enough it seems. I would not believe anything the banks and payday businesses say because they are only in it for the profit. The main problem is not that people cannot get a loan without paying outrageous interest rates it is that they need the loan in the first place. it is not right that they cannot earn enough money to support themselves and their families and have health insurance and save for that rainy day. ...Stan You can have regulation and oversight and still make a profit but it is never enough it seems. I would not believe anything the banks and payday businesses say because they are only in it for the profit. The main problem is not that people cannot get a loan without paying outrageous interest rates it is that they need the loan in the first place. it is not right that they cannot earn enough money to support themselves and their families and have health insurance and save for that rainy day.

...Stan

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