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markj
Shut up and play your guitar!
Minor Deity
Picture of markj
posted
How freaking stupid are people?

Received an unsolicited offer for a loan today.

The interest rate is 59.81%

How is this even legal?
 
Posts: 13638 | Location: Wisconsin | Registered: 20 April 2005Reply With QuoteReport This Post
markj
Shut up and play your guitar!
Minor Deity
Picture of markj
posted Hide Post
Upon further inspection it's worse than it sounds at first.

The actual annual percentage rate is 71.92%

Into the shredder of course but, seriously, WTF?
 
Posts: 13638 | Location: Wisconsin | Registered: 20 April 2005Reply With QuoteReport This Post
Steve Miller
Has Achieved Nirvana
Picture of Steve Miller
posted Hide Post
There was a time, not that many years ago, when there was a federal usury law set at some 18%. Prior to that there were state usury laws. Then the good people of the United States decided to elect Republicans and they decided that Usury laws were a bad idea because it negatively affected their donors. Usury laws were eliminated.

The lesson is clear enough. Vote Democratic.


--------------------------------
Life is short. Play with your dog.

 
Posts: 35014 | Location: Hooterville, OH | Registered: 23 April 2005Reply With QuoteReport This Post
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