Lawrence Myers, over at BloggerNews.net, has what must be a payday loan April Fools joke. He quotes the founder for The Center of Responsible Lending, Herb Sandler, with the following:
“Our recent flawed research, complete with our worthless methodology, attempts to link payday lending to bankruptcy, closed bank accounts, credit card delinquency and a long list of other financial hardships,” McFib said. “There is really no excuse for us to manipulate the truth in this manner, other than to sway the media, public opinion, and opportunistic politicians into doing our bidding. With nobody able to stop our abuses now, we continue to distort the truth and release bogus “surveys” until we achieve our goal of complete domination over the short-term credit market. We see where lax non-profit organization oversight has led us, and we love it. We should learn a hard-taught lesson, but thankfully, nobody is taking us out to the woodshed where we belong.”
If you’re interested in payday loans, the new legislation recently introduced and a funny yet very sad read, mosey on over to Larry’s Blog. He has plenty of excellent insight in to many facets of the payday loan industry.