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Loan Sharks

How Payday Lenders Bounce Back When States Crack Down

ProPublica | Paul Kiel | Posted 08.07.2013 | Business

A version of this story was co-published with the St. Louis Post-Dispatch.In 2008, payday lenders suffered a major defeat when the Ohio legislature ba...

'Soon We Will Visit the Museum to See Poverty'

Marian Wright Edelman | Posted 08.21.2013 | Politics
Marian Wright Edelman

Many leaders and philosophers say we should end poverty, but through his visionary innovation, tireless hands-on work, and dogged unwillingness to accept it, Dr. Muhammad Yunus has made ending the cycle of poverty a reality.

A Controversial New Plan To Stop Foreclosures

AP | AMY TAXIN and CHRISTINA REXRODE | Posted 09.15.2012 | Los Angeles

FONTANA, Calif. — In a story July 15 about a proposal for cities and counties to use the power of eminent domain to seize mortgages and help hom...

Getting Rich In Supposedly Illegal Businesses

Don McNay | Posted 04.22.2012 | Business
Don McNay

As a society, it would seem logical that we would want drug pushing, loan sharking and corporate influence peddling to stop. At the very least, we could go back to making it against the law.

Legalized Loan Sharks

Don McNay | Posted 09.28.2011 | Business
Don McNay

"Financial reform" is a boon for people in the payday loan business. When people fall out of the world of traditional banking, they are still going to need bank-like services. Payday lenders will be in position to fill the gap.

Why Muhammad Yunus and the Women of Grameen Matter

Vivian Norris | Posted 05.25.2011 | Business
Vivian Norris

If we are going to see true evolution and true civil society, we must begin with supporting the most disadvantaged in helping themselves. They know what they need.

The beginning of the end for abusive payday loans?

Patrice Peyret | Posted 05.25.2011 | Business
Patrice Peyret

Gary Rivlin's book "Broke USA" describes Sandra Harris, an accounting technician who borrowed $200 from a payday lender to pay her car insurance afte...

William Alden

Bailed-Out Banks Finance 'Legalized Loan Shark' Lenders, Says New Report

HuffingtonPost.com | William Alden | Posted 05.25.2011 | Business

Big banks that received TARP bailout money are funding payday lenders -- companies Senator Dick Durbin (D - Ill.) termed "bottom feeders" -- and which...

Wall Street Journal Review Touts "Legalized Loan Sharks"

Don McNay | Posted 05.25.2011 | Business
Don McNay

Despite what the Wall Street Journal says, Broke USA is an even-handed look at the poverty industry. A little even-handedness would have gone a long way in the Wall Street Journal's review.

Wall Street and Legalized Loan Sharks

Don McNay | Posted 05.25.2011 | Books
Don McNay

Gary Rivlan notes in his book, Broke USA, "the working poor have become big business." You wouldn't think that poor people would be a growth market, but businesses make big money off people who live paycheck to paycheck.

Is Credit Evil?

Don McNay | Posted 05.25.2011 | Business
Don McNay

I've watched many people get in trouble with upside down car loans, second mortgages or high interest rate financing. Credit keeps many people from living within their means. Then a friend told me he was buying a large house.

An Open Letter to Magic Johnson

Don McNay | Posted 05.25.2011 | Business
Don McNay

Who is the real Magic Johnson? The friendly guy who raises money for charities or the guy who encourages people to get high interest loans they don't need?

Stop Wall Street Loan-Sharking

Sen. Bernie Sanders | Posted 05.25.2011 | Politics
Sen. Bernie Sanders

What Wall Street and credit card companies are doing is really not much different from what loan sharks do who make predatory loans. They are destroying people's lives.

Fixing the Economy, from the Bottom Feeders Up

Don McNay | Posted 05.25.2011 | Business
Don McNay

I'm not sure where the payday lending businesses came from, but they populate poor neighborhoods everywhere. It's time to help people on the low end, too.