How Wall Street Exploits Minorities w/ Payday Loans
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Ah. The ‘reverse Robin Hood’. Classic. Never gets old. The rich getting richer by taking the poor’s money – but this time, with an added dash of racism.
Usually they just vilify the poor as being lazy parasites while simultaneously sucking them dry of everything they have. It’s good they’re branching out from basic class warfare and mixing it up with some good old fashioned racist crap.
Serious now – when will we all wake up? The middle class is disappearing, and the gov’t is owned by money!
What is the difference between taking out a $300,000 morgage and paying the bank back $350,000 over 20 years, vs taking out a $300 cash advance and paying back the bank $350 two weeks later?
The difference is that one has a 2% annual interest and one has a 430% annual interest. THEY ARE MEANINGLESS!!
annual interest rate =/= profit margins.
It makes sense that Blacks and Mexicans need loans. If they have a job all the money they make goes to drugs and booze.
Rich people seem quite scared of black people.
@rasaecnai you telling the truth that goes for other things the government don’t want anyone to know.
@Htown75 move on sorry but these things are planned against blacks they are targetting blacks it is not like they are targetting whites we talk about equality well than that is not equality since the practice is just then why not whites as well get affect I will tell you why it would cause whites to be poor and lose power.
@langox510x blacks making change at the heart of the problem.
@langox510x they can’t really regulate banks it is like a store a store can charge whatever they want to it isn’t right but it happens. The problem is that you need to have those who are black in business especially to stop these things. They want to talk about blacks not having jobs well that is job creation for blacks right there have those who can deal with racism in banks for blacks. Not only that whites try to get slick talking about how blacks got to blame whites then they would not mind
It is mordern day share corping nothing they figure that blacks are poor why not keep them in debt see I am glad that racism is actually showing whites racist nature to keep money. They figured get rich off blacks off blacks debts same thing as share corping no different keep blacks indebt to us we can make money off of them.
Block Busting in Real Estate helps whites to make money off blacks as well use panic scare say we got niggers moving in all whites leave jack up the price for homes.
@DarthHater100 Their favourite customers are the people who just make minimum payments, who are far more numerous than deadbeats who just skip out. Cash Stop, to name just one, proudly boasts that you can in fact qualify for a loan while on EA.
@RumbleHD Perhaps it’s just in Indiana then, and I don’t know if I read your last sentence correctly or not, but if you mean to say that there are more old people home in old people neighborhoods, then your correct. But at least they aren’t destroying their community. You shouldn’t have to go to sleep at night hearing gunshots and being worried about if you’re gonna wake up in the morning or not.
@izsmrpickle All I’m saying is that I too have lived in both types of neighborhood. I haven’t heard of this before. Also what about the Hispanic and European immigrants. I see more people at home at a old people’s neighborhood.
It should be illegal for a Payday loan to charge 400%. I think typically any average person can only charge about 10% interest. I honestly think there should be a much lower cap on how much interest any bank can charge, period.
@adoniscomplex i saw that nation sky thing or something with that native american in the thing, read the smallt ext, ya know the commercial “its not cheap but its a lot less than a payday loan” the interest is 135%, now i dont know, im 14, but that sound like quite a bit
@rasaecnai
if you ask how much is the interest rate and they dont tell you the truth they are lying and you sue..they would not lie why? Because millions would be lost..
They probably say things like “no interest for first month” or “low credit any credit”… Again same thing with adjustable mortgages
Not knowing is ignorance and in business specially shady business you really got to read the contracts.
@mlking213 well isnt the whole point of a scam is to NOT let you know you are being scammed until its too late? If these people know what they are walking into do you think they walked into it?
they are not stupid… they were fucked up! INTENTIONALLY by these crooks.
if we follow your logic then the whole america IS FUCKING STUPID! how do you think wall street fucked up your economy?
NOT KNOWING is never equal to STUPIDITY! People did now know because the bank wanted you NOT to know.
@Mantisisland And minorities are poorer. And the redlined/specially designated neighborhoods show up on the documents you give the bank to get the loan
It’s legal loan sharking……move on. Don’t freaking use them.
@tastingo88 botswana. and i could go on, but i done feeding you troll, starve.
@tastingo88 you are an idiot.
PEOPLE ARE STUPID! This trick isn’t new!
When was the last time ANY of you read the fine print?
PEOPLE ARE STUPID. I’m not though.
Minorities are the MAJORITY of poor people!
Poor people are people – SO THEY’RE STUPID. And Poor.
You put that much money infront of em’, en’ tell em’ it ain’t gon’ cost shit.
They ain’t readin no fine print. lmao
Sorry but I can’t feel empathy for those idiots taking those loans.
@tastingo88 name calling, hmm… sound real developed. not childish, petty and stupid, right? “self inflicted famine”, huh? you could read a social science, or history book b4 you comment. Question: DO PHYSICAL TRAITS DETERMINE ONE’S ABILITY TO THINK, LEARN, ETC.? IF SO WHO”S BETTER/SMARTER, REDHEADS or BRUNETTES?
@tastingo88 YOUR COMMENTS ARE WORTHLESS, I HOPE YOU STARVE, TROLL.
@SwampThizzle i get good service i tip 20% or more, i get “discriminated service” you get shit, bus boy.