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The Wild and Cruel Gap Between Debtors and Creditors - Ralph Nader

Business  (tags: inequality, corporate vs. individual debtors, Fed's low interest rates, individuals' astronomical interest, outrageous fees, compulsory arbitration, student loans, CFPB, Elizabeth Warren )

- 1648 days ago -
We hear almost daily about inequality of wealth, income and wages...but not much attention is given and not many marches and other protests are addressing the huge inequalities between creditors and debtors.

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Howard C (21)
Sunday December 15, 2013, 7:28 am
I am horrified to see those offering pay day loans (short term loans designed to see you through to the next pay day) that can charge up to 4000% interest (yes, four thousand percent). Thankfully the UK Government has finally taken action to restrict the amount such organisations can change. As in the article I compare this with the 2% that I get on my savings (it seems that savings rates are slightly, but not much, better in the UK than there are in the US), this is still below inflation so savings are actually devaluing year on year while the banks that hold them still pay their CEOs huge bonuses.

Jonathan H (0)
Sunday December 15, 2013, 7:37 am

. (0)
Sunday December 15, 2013, 9:54 am
Noted & posted

Malgorzata Z (200)
Sunday December 15, 2013, 11:22 am

Roger G (154)
Sunday December 15, 2013, 11:39 am
noted, thanks

Janis K (126)
Sunday December 15, 2013, 12:47 pm
Noted thank you

Robert O (12)
Sunday December 15, 2013, 1:25 pm
Thanks Judy.

Judy C (97)
Sunday December 15, 2013, 2:48 pm
Thanks everyone. Howard, I share your horror at this incredible interest discrepancy. These bankers aren't much different from thugs who would mug you on a dark street... except that they wear obscenely expensive suits, and will never see a day in jail.
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