tag:blogger.com,1999:blog-10424035.post4846810016918744288..comments2023-09-11T08:58:24.710-06:00Comments on Reach Upward: Go Ahead and Regulate Payday LendersScott Hinrichshttp://www.blogger.com/profile/11831447472339880148noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-10424035.post-13639606221964994122007-01-25T13:16:00.000-07:002007-01-25T13:16:00.000-07:00Good points.
If we're going to allow these busine...Good points.<br /><br />If we're going to allow these businesses to operate at all, wouldn't it be a good idea to make them publicly post their rates in huge bold numbers, kind of the way gas stations post their prices? I wonder what kind of effect that would have.Scott Hinrichshttps://www.blogger.com/profile/11831447472339880148noreply@blogger.comtag:blogger.com,1999:blog-10424035.post-89628381463675273972007-01-25T09:20:00.000-07:002007-01-25T09:20:00.000-07:00Some folks have made the same competition argument...Some folks have made the same competition arguments in the telecommunications sphere. Their position is that satellite competes with cable, DSL and wireless and cable modems are all competing, and Vonage can take on Qwest. In reality, most of the "competition" is a marketing dog-and-pony show designed to make it look like there's competition.<br /><br />Have Qwest or Comcast done anything in the last five years to leapfrog their competition with superior services? Have prices for their services dropped substantially? Do we have more choices for our TV, high-speed Internet or phone services? No, no and no. All of the players know that they can gouge the living snot out of us and claim to be competitive with slick ads and triple-play discounts.<br /><br />Payday loan companies are the same way. New entrants know they can make a killing in this market, and they only need to undercut the competition by a small amount to claim that they're better than "those other guys". The sad truth is that they're still well into triple-digit interest rates though they'll take a good game about competition. Yeah, they're better, but a rotten piece of meat makes a better meal that the contents of the Pooper Scooper. That doesn't make the former a Good Thing(TM).Jesse Harrishttps://www.blogger.com/profile/11468928702710912142noreply@blogger.com