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Topic: Dirty Money
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Page 2 of 2 of 23 replies
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March 24, 2018 at
03:56:45 AM
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09/14/2010
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No offense taken
But you have to consider "consent under duress"... a guy puts a gun to your head & says "Your $$$ or your life"... you agree to hand over your $$$... so the guy doesn't deserve jail time cause you agreed? Financial desperation can be like a gun to your head, & the lender knows it. He could never get away with charging outrageous interest rates to people NOT in a desperate situation
People have spent years in jail for loan sharking. Payday loans are just legal loan sharking
Same with "rent to buy"
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March 25, 2018 at
01:27:35 AM
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02/20/2005
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487
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Reply to:
Posted By: revjimk on March 24 2018 at 03:56:45 AM
No offense taken
But you have to consider "consent under duress"... a guy puts a gun to your head & says "Your $$$ or your life"... you agree to hand over your $$$... so the guy doesn't deserve jail time cause you agreed? Financial desperation can be like a gun to your head, & the lender knows it. He could never get away with charging outrageous interest rates to people NOT in a desperate situation
People have spent years in jail for loan sharking. Payday loans are just legal loan sharking
Same with "rent to buy"
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I get where you're coming from. The difference in your example that I see is. I don't think anybody would go in asking "Could you hold a gun to my head and offer to shoot me or take all my money". Where the people go to these loan sharks (I won't deny that they are) asking for money. And for a time the terms were completely legal.
I think we're going to have to agree to disagree but here's why I don't feel sorry for the people taking these loans. Why would you go to a place like this for a loan? I can think of only two reasons a person would need to get a loan from these people. From my understanding there are government programs in place (welfare?) for housing, food, car, spending money, cable and internet, education, health insurance and health costs, heat utilities and I'm sure I'm missing a bunch more. What more does a person need? The only reason I can think of for having to go to a place like this for quick money is gambling and drugs. It's pretty tough to get a legit loan for something like that.
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March 25, 2018 at
02:03:38 AM
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06/10/2015
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2420
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This message was edited on
March 25, 2018 at
02:04:54 AM by blazer00
Reply to:
Posted By: hardon on March 25 2018 at 01:27:35 AM
I get where you're coming from. The difference in your example that I see is. I don't think anybody would go in asking "Could you hold a gun to my head and offer to shoot me or take all my money". Where the people go to these loan sharks (I won't deny that they are) asking for money. And for a time the terms were completely legal.
I think we're going to have to agree to disagree but here's why I don't feel sorry for the people taking these loans. Why would you go to a place like this for a loan? I can think of only two reasons a person would need to get a loan from these people. From my understanding there are government programs in place (welfare?) for housing, food, car, spending money, cable and internet, education, health insurance and health costs, heat utilities and I'm sure I'm missing a bunch more. What more does a person need? The only reason I can think of for having to go to a place like this for quick money is gambling and drugs. It's pretty tough to get a legit loan for something like that.
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Most go for the loans because they have simply ruined their own credit! They are so bad, they can't even borrow from mom and dad anymore. But, welfare does not provide all the necessities, and it shouldn't. Many can't have a car without these types of loans for example. You are correct in that some have the drug and gambling problems. What the majority of these people need is a money manager, not just a loan shark high interest loan. They are captive to the "sharks" and that's the vicious circle that needs broken. Sadly, there are far too many problems that won't be solved in our society. John Lennon wrote a lyric that best says it like it is......................."people asking questions.....lost in confusion. I tell them there's no problem......only solutions." The song is "Watching the Wheels". One of his last.
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March 25, 2018 at
02:30:51 AM
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Joined:
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09/14/2010
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7628
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Reply to:
Posted By: hardon on March 25 2018 at 01:27:35 AM
I get where you're coming from. The difference in your example that I see is. I don't think anybody would go in asking "Could you hold a gun to my head and offer to shoot me or take all my money". Where the people go to these loan sharks (I won't deny that they are) asking for money. And for a time the terms were completely legal.
I think we're going to have to agree to disagree but here's why I don't feel sorry for the people taking these loans. Why would you go to a place like this for a loan? I can think of only two reasons a person would need to get a loan from these people. From my understanding there are government programs in place (welfare?) for housing, food, car, spending money, cable and internet, education, health insurance and health costs, heat utilities and I'm sure I'm missing a bunch more. What more does a person need? The only reason I can think of for having to go to a place like this for quick money is gambling and drugs. It's pretty tough to get a legit loan for something like that.
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" I don't think anybody would go in asking "Could you hold a gun to my head and offer to shoot me or take all my money"
Thats actually pretty funny. I admit my anaolgy was less than perfect! 
" The only reason I can think of for having to go to a place like this for quick money is gambling and drugs.".... thats a pretty huge assumption. There are all sorts of reasons why people are financially desperate. Like I said before, desperate people often do stupid things, & I don't think "investors" should be able to make a killing off their desperation.
But other than that... Go Posse!
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