NH Dems outlaw hundreds of jobs during recession

Sponsor: http://LyfProductions.com - Despite the payday loan industry's desperate attempts to remain in business...a draconian Democrat law seems destined to place hundreds of their workers on the street in New Hampshire. This as we enter the early stages of Great Depression II. This video was shot 1/10/09 __ and first uploaded around 1/11.

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• new
• hampshire
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• illegal
• payday
• loans
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• lynch
• nanny
• stossel

[P3rf3ctStorm]

The "normal" banks don't like the competition. They want you to get your loan at THEIR bank, not at a "Payday" bank.

[CurtHowland]

Easy enough, just compete with them.

If you think they're being "predatory", open your own with a more "reasonable" rate.

I don't see any reason why churches couldn't offer this service to their paritioners, etc.

The problem with making such a thing "illegal" is that it is a service. It only exists because of the demand. When illegal, it's called Loan Sharking. I'd much rather have the business above board and accountable, than have people's knees busted when they can't pay the shark.

[newave123456]

@s0beit I could have been born in Rowanda. Instead I was lucky to be born in America. It was about misfortune. You seem to lack critical thinking abilities beyond the fact that you dont really understand anything outside of your own life experiences. You seem fixated and not able to comprehend what I am saying as a whole. You pick and chose words without looking at the content as a whole. Knowing this, uur conversations can only go downhill from here. Have a good day.

[s0beit]

@newave123456 Yes i understand that your statement really is no different from what i said, and that with your super-intellectual abilities you try to dictate how other people live because you, obviously, with your superior intellect seem to know best for those most unfortunate. That's certainly true in this case, i don't know how you factor third would countries into this, perhaps to twist the conversation.

[newave123456]

@s0beit o_0 I said NOT EVERYONE IS AS LUCKY AS ME. Luck implies that I am NOT special. I am lucky to be smart. I am lucky to be well off. So since I understand this. I also have to take into account the misfortune of others. To be born without alot of intelligence or to be born in a third world country or any other unfortunate scenario. Therefore, we must make sure that these less fortunate people are not taken advantage of. Thats what I meant and thats what I was saying. Understand?

[s0beit]

@newave123456 So you basically think all other people are stupid and incapable of reform or education on the matter? Nice

[newave123456]

@s0beit Im smart and really well off. I HAVE taken out loans and paid them off. But I refuse to take those libertarians views. Why? Not every has the mental or situational capabilities NOT to be caught in a bad contract. If you had any ability to see many different scenarios outside of your own, you would quickly take a different view. But forgive me for thinking about others that are not as lucky to be as smart and well off as me.

[s0beit]

@newave123456 A loan is voluntary. I'm not rich and I've never taken out a loan because i save my money. It's a pretty simple system i have going, if people want to enter into stupid contracts it's their own fault.

[newave123456]

@s0beit Really? No such thing as predatory loans? You need to read our gov's USARY LAWS that were on the books until the late 90's that discuss predatory lending practices. Please read a book. If you cant read, I will help you find the info.

[s0beit]

@newave123456 There's no such thing as a "predatory" loan, are you stupid? People should read the terms of the agreement and refuse to get the loan if it's a ripoff. Plain and simple.

[Robbob9933]

I think all armed forces personnel are prohibited from using Payday loan companies. Example, you need 200 bucks you give them a post dated $250 check. If check clears after they deposit you are clear. If not bank hits you with fee, payday loan company hits you with dishonored charge plus additional loan fee, plus 20 bucks interest on previous balance. So after one iteration your $200 becomes a $300 debt.

[newave123456]

Payday loans are usury. They can make small loans if they like but 30-anything percent is predatory by any standard. The only people who used to have rates like those were the MOB. They will still make money and if they care about people who really need the help, they could forgo alittle of these profits. BTW these payday loan companies are actually funded by big banks. Good on New hampshire for having foresight on this matter!