Hoofy & Boo: Payday Cash Loan Usage Increases, Bankruptcy Rising

http://www.minyanville.com The Fed didn't cut interest rates, but neither did predatory lenders.
Hoofy and Boo take a look at why 2600 Americans a day file for bankruptcy and are turning to any 1 of the 24,000 Payday Loan Stores in the United States. Annual interest rates for these subprime Payday Loans are high and some say they should be illegal. Some still support them, including former Washington D.C. Mayor Marion Barry who says Payday Loan Company employees will be out of work if places like First Cash Pawn are legislated out of business. The mafia's Little Nicky Scarfo was only charging 152% interest on short-term loans compared to CEO Dan Feehan Cash America who's rates can go as high as 651%.

Category:

Comedy

Tags:

• Hoofy
• Boo
• Business
• Humor
• Minyanville
• Payday Loan
• Payday Loans
• bankruptcy
• subprime loans
• Marion Barry
• First Cash Pawn
• Little Nicky Scarfo
• Mafia
• Dan Feehan
• Cash America

[Vrejnaz]

MEDZ BLIGUS GER INCH ESH MARTIG GA AYS ASHKARAH

[LordBifford]

lol when legal lenders are worse than the mob, you know America has a problem.

[8989tom8989]

1st COMMENT!!! WHOOO!!! Funny video and I agree!