I would like to introduce a new standard

Instead of the term Bob Costas, how about saying Scott Tucker?

http://www.iwatchnews.org/2011/09/26/6605/payday-lending-bankrolls-auto-racers-fortune

I put none of the responsibility on Tucker's shoulders. Payday loans are a "quick way to get cash for the desperate" and normal people know there is no such thing as "quick cash".

Anyone who gets a payday loan is just asking for it. Tucker simply answered...

I am not saying he is ethical, but neither is anyone in the money lending field. Or nearly any other field for that matter.

eLoanSharking... sweet. I wonder how they eBreak your kneecaps when you disappear with the money.

Because I just feel the need to trust everyone online.

What a dick. But still I can't say I feel too bad for the people who fall for that E36 M3.

Ummm... I say, "So what?"

Sure, he is a lower lifeform then an amoeba, but so is the stupidity of people actually needing cash so fast and actually agreeing to those terms.

He's a dick enough to do it, and people are dumb enough to let him. Sure it's a bad bad thing he's doing, but karma is a bitch, and the people that ARE dumb enough to get an 800% interest loan, deserve it.

Taking one of those loans may be patently idiotic, but I don't think it's illegal.

However, it is illegal for him to be offering that service in some of the places he's offering it, and he's going to great lengths to flout those laws.

So yeah, it's idiocy to take those loans, but I'm not letting Tucker off the hook that easily.

Did you notice who wrote those articles?
...No relation.

Back O/T-

Stupid is as stupid does, and I was very young when I learned that loans don't really give you "extra" money.

I won't hate the guy any more than any other person who's well off enough to take advantage of the lazy and stupid- in fact, I like him BETTER than the CEO of McDonalds (or any other unhealthy fast food chain) or Wal-Mart (or any other bottom-dollar Chinese importer) or a futures speculator or...

Also keep in mind he has specifically set up these corporations to be immune to regulation and prosecution. There is no way to enforce that he is even truthfully disclosing the terms to the borrowers. It It's pretty sick how pervasive this whole tea party "blame the poor for being poor" attitude has become these days. This guy is a blatant criminal who is taking advantage of both the poverty of the people taking his loans and the poverty of the tribes that he is operating through to funnel piles of cash to himself in direct contradiction of state and federal laws. And you're going to cheer him for it? Whatever happened to people looking out for each other, and bringing shame upon those who don't?

Guys, quit being a Scott Tucker.

You Scott Tuckers are really starting to piss me the berkeley off.

I have been desperate enough to get one of those loans.. thankfully, I decided to wait the few days till my next payday.. things just got better over time.

When people are desperate, they will do stupid and desperate things to survive. If it means crawling into a cave with a bear to stay warm, Cutting off your foot to get free, or getting a payday loan to keep the roof over your head or food in your stomach, people will do it.

I do not blame the poor for their problems. (the Alcohol and drug addicted are a different matter) but I will blame the people who prey on those desperate enough to do anything just to survive

Josh wrote: Also keep in mind he has specifically set up these corporations to be immune to regulation and prosecution. There is no way to enforce that he is even truthfully disclosing the terms to the borrowers. It It's pretty sick how pervasive this whole tea party "blame the poor for being poor" attitude has become these days.

oh snap! tea party created indian reservations!

You know damn well what I meant. Frankly the tribes are the victims in this situation. They aren't the ones getting wealthy on this scam. They're still largely impoverished, they're just making a deal with the devil to get by, same as his customers. But feel free to continue equating wealth with virtue as our country circles the drain.

Josh wrote: You know damn well what I meant.

So quit mentioning the tea party. You don't have to be a Tucker about it.

As to Tucker's alleged circumvention of the law, it'll either catch up to him or he'll be legislated out of business. Poorly constructed and implemented laws are what allowed the situation to be exploited in the first place.

Josh wrote: But feel free to continue equating wealth with virtue as our country circles the drain.

Why not? Everybody else seems to equate wealth with evil.

oldsaw wrote: So quit mentioning the tea party.

I didn't say the Tea Party created guys like this, but they are absolutely responsible for fostering a culture in which his sort of scum are given a pass and rationalized as "enterpreneurs" or "creative businessmen" for finding a way to bilk people and break the law without being thrown in jail. Guys like that will always exist in any government or society. I'm far more worried about the fact that people who should know better are defending his behavior.

Duke wrote: Why not? Everybody else seems to equate wealth with evil.

Honestly though, who does, in any substantive way, actually equate wealth with evil? Even the expression "money is the root of all evil" isn't alleging that money is evil, rather that evil people do evil things to get it.

A little over a year ago, Arkansas prohibited these "outfits" from operating within it's state's borders. I will be curious, tho, to find out how long that prohibition stands.

I guess what burns me about places like this is the fact that they figure "as long as it's legal, I shouldn't feel bad about ripping off my "fellow man" ". They are like car dealerships that take advantage of the elderly or the folks who are not car savvy. They could operate just find with lower profit margins, but "hey, why should they?"

I also agree with the remarks about McDonald's and Wal-Mart...and avoid both places. I went into Wal-Mart a few months ago, when I was looking for some coolant, but walked back out. The prices weren't marked on the coolant, and I only wanted to see how much more AutoZone or Advance would be charging.

Josh wrote:

oldsaw wrote: So quit mentioning the tea party.

I didn't say the Tea Party created guys like this, but they are absolutely responsible for fostering a culture in which his sort of scum are given a pass and rationalized as "enterpreneurs" or "creative businessmen" for finding a way to bilk people and break the law without being thrown in jail. Guys like that will always exist in any government or society. I'm far more worried about the fact that people who should know better are defending his behavior.

You have developed (or have been fed) a perverted interpretation of Tea Party principles. You're coming across as one claiming a moral high ground while standing in quicksand.

Just sayin..............

It seems quite a stretch to blame a specific source (that didn't exist three years ago) for your perceptions of some posters on this thread.

oldsaw wrote:

Josh wrote:

oldsaw wrote: So quit mentioning the tea party.

I didn't say the Tea Party created guys like this, but they are absolutely responsible for fostering a culture in which his sort of scum are given a pass and rationalized as "enterpreneurs" or "creative businessmen" for finding a way to bilk people and break the law without being thrown in jail. Guys like that will always exist in any government or society. I'm far more worried about the fact that people who should know better are defending his behavior.

You have developed (or have been fed) a perverted interpretation of Tea Party principles. You're coming across as one claiming a moral high ground while standing in quicksand. Just sayin.............. It seems quite a stretch to blame a specific source (that didn't exist three years ago) for your perceptions of some posters on this thread.

Yeah dude. I guess I am solely responsible for this guy because I go to tea party rallies. I still am waiting for those 800% interest checks to start rolling in.

just wait till a disgruntled loan recipient decides to have at tucker on the track. Id ball up a miata to take a shot at that dickhead.

I dont understand how people can be so stupid to take out these loans. dont they have to read the terms and conditions? 800% interest? It is decisions like this that keeps these people in desperate conditions. Most poor people decide to stay poor instead of sacrificing in the short term and doing what is necessary to get out of their current conditions. The poor in this country have a higher standard of living compared to the average standard in some countries. I have no sympathy for people who make such blatantly stupid decisions like taking out payday loans.

This guy is a scumbag and should be prosecuted for his illegal actions. and I think the government should remove some of the Indian protections and start taxing their (gambling) money. this would make it easier to go after people who are smart enough to find and exploit loopholes using tribes as protection.

[sarcasm] If americans are all to dumb to see that payday loans are horrible then why cant the goverment just outlaw the practice. like they did with seatbelts, we americans cant be trusted to decide to protect ourselves so just let the guberment do that. [/sarcasm]

integraguy wrote: I went into Wal-Mart a few months ago, when I was looking for some coolant, but walked back out. The prices weren't marked on the coolant, and I only wanted to see how much more AutoZone or Advance would be charging.

FYI you have to look at the tag on the shelf just below the product.

800% isn't too bad, checking here http://www.nationalpayday.com/faq.htm at the bottom, worse case is 1303% interest. Sounds like these loan places are legal Mafia.

It sounds like some people quit reading after the first page... Page three is particularly interesting.