“Holder wants to prosecute Wall Street bankers and Bloomberg wants to regulate payday lenders. Neither approach deals with the fundamental issue of the business cycle and central banking’s role in it. Holder’s latest initiative targets Wall Street banking. The CFPB believes a similar level of exploitation lurks within the payday loan industry. It would be far more productive to try to understand why such payday loans are necessary, why poverty is increasing in the US and throughout the West, why some 40 million US citizens use food stamps while tens of millions more cannot find a job. These are deep and serious issues that would demand scrutiny of the US’s basic economic model.”
http://www.thedailybell.com/news-analysis/36100/Attacking-Payday-Predators-Misses-the-Point/
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