Broke, USA

Payday loans. Instant tax refunds. As Congress creates the first federal organization purely directed toward protecting consumers of financial products, those products and the industry that houses them face significant federal regulation for the first time. However, work remains to be done in understanding the full nature of the "fringe" banking sector and its impact on low-income Americans and the economic collapse of 2008.

Gary Rivlin's timely new book, Broke, USA, goes a long way in explaining that story from the perspective of the families that are enmeshed in the "fringe" and from some of the key figures who made that sector into the multi-billion dollar industry that exists today.

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News & Politics

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• Broke
• USA
• Payday
• Lenders
• Pawn
• Shops
• Consumer
• Protection
• Agency
• Federal
• Dodd
• Frank
• Bill
• Law
• Domestic
• Policy

[underyourskindvd]

very interesting.

[SparxHCS]

Thank you for the post, very interesting. IMO, discussions like this that analyze financial issues within the current monetary framework are typically misleading. This same issue manifests itself in Congress -- they never question the underlying system, instead they are hanging on another bag of regs. The only way I personally see issue like predator lending it be fixed is simple - don't try and reform the financial mechanisms, gut the monetary system and eliminate the need for any of this.

[kessmypersainass]

this topic by its self make me sick but yeah great post thank you keep them coming...