Because none of you are smart enough,” says Mehta. “You make the stupid laws and I’ll comply and I’ll make money

By | Mar 24, 2013

In case you missed this,former Providan Bank executive revealed the contempt in which he holds borrowers in this short video:

“Because none of you are smart enough,” syas Mehta. “You make the stupid laws and I’ll comply and I’ll make money. . . . There are always some desperate people who will take the product. Lending money to people is never a difficult exercise. OK? People will take money if you’re willing to give it to them.”

“Lending money is never a difficult exercise.” Below, an excerpt of the Frontline program “The Card Game” with Mehta:

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Jer – Trihouse
2 Comments so far
  1. Martin March 28, 2013 5:58 pm

    The attacks on our industry are fruitless. Consumers want the product! Banks make money by providing capital to us, earning NSF fees by enabling us, and by offering competing products.

  2. Payday Loan Industry March 28, 2013 5:59 pm

    You’re correct, Martin. Regarding the bank PDL product, they provide it with virtually zero risk!

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