Tuesday, September 16, 2008

I guess loan sharking pays well...

I may be going out on a limb here, but it seems that the payday loan industry is a *highly* profitable one. They certainly have an awful lot of available cash to throw around.

According to the AZ Secretary of State's website, the Arizona Community Financial Services Association (ACFSA) contributed $2,395,063.31 to their political committee in support of Prop 200.

Just on September 15.

And that's on top of the $4.9 million on July 16, the $927K on July 21, and the hundreds of thousands every couple of weeks since the beginning of the year.

According to the committee's latest financial report of activity through August 13 (dated August 21, 2008), they've spent more than $6.8 million in support of their ballot measure to permanently allow payday loan schemes in Arizona with $8.9 million in contributions from ACFSA.

Folks, I may not know what any of you are doing for a living, but I can state unequivocally that we are all in the wrong lines of work.

Well...wrong lines of work if base avarice is our primary motivation for doing what we do.


1 comment:

No said...

Out-of-state payday lenders are trying to buy this election! I hope Arizonans (native and transplant alike, Craig) will show them they can’t be bought in November.
Check out this hilarious You Tube video about “Lenny the Loanshark.” Captures payday lenders PERFECTLY. They’d try and take the shirt off your back if they could.
Vote no on 200 in November!