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By Payday Loan Advocate

October 25, 2008 2:13 AM | Link to this

   Franklin Delano Roosevelt was President of the United States in 1932, the year the country was spiraling into recession. Many people wonder if the future of our country is heading to the same economic disaster. Franklin Roosevelt's “New Deal” economic policies radically restructured the performance of the U.S. economy. Essentially, the government’s role in the economy expanded to a degree no one had ever seen. Roosevelt's policies provided the short-term relief that the country needed, but for the long run, it can be argued that they caused significant long-term damage. In a Wall Street Journal article, Paul Rubin suggests that while the current state of the U.S. economy is not in the same state as it was back in 1932, the aspects and factors we see today are incredibly similar to the 1932’s economic crisis: stock market in a tailspin, credit markets locking down and Sen. Barack Obama, the leading Democratic presidential candidate, who is firmly running on a platform that will inject increased government regulations into problem areas like the economy. Especially now a days that the country is facing on the economic crisis does Obama has the capacity and potential to lead the nation of it may happened to that they want to become the president of the America that’s because for the welfare only.  Supporters of a free market economy are concerned that Obama’s proposed governmental policies will lack the long-term direction America so desperately needs. Those who support the principles of capitalism will disagree that we’re better off than in 1932. Mostly of the supporters of the Obama’s principle those people that are not involve in the payday lending institution that are not thinking of the welfare of the other’s payday lenders are in some aspect they are found out to realized that they are the friendly user’s for the loan. That because whether they like it or not we are in never indeed that despite of the crisis we in get through with we need some other resources on how to we get through with the payday loan institution.

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By Payday Man

September 17, 2008 4:12 PM | Link to this

You people trying to put payday lenders out of business are such idiots. If you go to a bank, get a 3 year loan, have a 10% APR, you end up paying…30%, correct? Now, if you have a payday loan for TWO WEEKS which is what they’re supposed to be, well, if your 52 week or APR is 391%, what does that make your TWO WEEK interest out to be? About 15%!! Yeah the APR is astronomical because the only way to make money in TWO WEEKS is to have the interest rate over TWO WEEKS be comparable to 3 years.

By jasmine

August 30, 2008 4:16 PM | Link to this

Come on Ohio. Let’s stand up for some kind of integrity. And you people who just sign anything are not helping anybody. Please read these petitions before you sign them. It can affect lots of people’s lives. These payday lenders are deceitful and do not work with people. They want to just harass people and take their money. This is not a good option. I have a short term loan with a reputable loan company. One month I could not make the payment. They said I had been a good customer.

By jasmine

August 30, 2008 4:16 PM | Link to this

Come on Ohio. Let’s stand up for some kind of integrity. And you people who just sign anything are not helping anybody. Please read these petitions before you sign them. It can affect lots of people’s lives. These payday lenders are deceitful and do not work with people. They want to just harass people and take their money. This is not a good option. I have a short term loan with a reputable loan company. One month I could not make the payment. They said I had been a good customer.

By jasmine

August 29, 2008 7:05 PM | Link to this

Not only are the payday people loan sharks but they are also bullies. They cry and threaten to sue even our elected officials if they don’t get their way. That is how they act with their customers. There is no respect with their customers. I have a payday loan that I bounced and then went in and paid and then they re-deposited the check again. I called to complain and they said well if you paid on time in the first place there wouldn’t have been any problem. I think they are crooks.

By Kim Norris

August 19, 2008 5:26 PM | Link to this

Ohioans For Financial Freedom has demanded Bill Faith immediately retract completely false allegations he made about circulators allegedly paying two individuals $1.00 to sign a petition, or face serious legal actions. The Committee investigated this allegation of two homeless individuals allegedly being paid $1.00 for their signatures and found it to be completely false. No circulators from our group were even in Butler County during this time!

By Rick

August 16, 2008 12:58 PM | Link to this

Barry is clearly a moron, the posts that he leaves on the other articles proves this. He clearly favors large businesses, and neocon wild ideas. All of his posts are completely regurgitated rhetoric from Fox news, Rush Limbaugh, and other crazy Republican pundits. Don’t pay any attention to him.

By jasmine

August 16, 2008 5:55 AM | Link to this

Anyone who needs to borrow money from one of these places is already in trouble to some extent. To have to pay it back in two weeks with high interest is difficult, even if you do have a decent job. All we are saying, let’s work out better terms. Make it more reasonable for hurting people to pay it back. They should have options like a 4 equal payment payback plan or something like this.

By Why trust these guys?

August 14, 2008 4:22 PM | Link to this

I find it pretty hilarious that the industry people who keep saying the same lines about financial freedom and choices don’t trust others with the necessary facts to make those decisions. Tell voters that your referendum is going to keep interest rates at 391% APR! Lying to people and telling them that their rates will be lowered is not giving people freedom or choice. It’s dishonest and should be stopped!

By UrbanDweller

August 13, 2008 7:34 PM | Link to this

Barry, you say payday lending places charge less interest than most banks do on overdraft charges (another form of “short term loans”). You are obviously one of the financially irresponsible people I’m talking about. If you don’t have money in the bank to cover the checks you write, then you have no business writing those checks.

By Barry

August 13, 2008 1:01 PM | Link to this

at least we got to vote on the smoking ban. and we were lied to by the anti smoking crowd on that one and nothing came of that. bottom line is the stupid little monkeys are going to vote to take away things for “your own good” all day long and they are going to listen to the two second blipvert with the cutest girl telling them what they think they want to hear. ban smoking, it is evil. ban pay day loans, they are evil. gambling is evil (but it will give money to our schools, that’s good)

By UrbanDweller

August 13, 2008 12:57 PM | Link to this

The bottom line is stupid people need others to look out for them. The majority of those who use these payday lenders are finanically irresponsible. Say you run out of money before payday and need a loan. With the 300+% interest, chances are your next check will all go towards paying back that loan leaving you, again, without money until your next check. See the vicious cycle? At least with a cap on the interest, they might be able to pocket some of their paycheck until the next one.

By Barry

August 13, 2008 12:45 PM | Link to this

pay day lending places take less money out of your pocket then Big Government does. pay day lending places charge an interest rate lower then most banks do on overdraft charges (another form of “short term loans”). I resent the government coming out and saying “for your good we are going to limit this thing” (probably because they aren’t getting a big enough cut in the action). if you think the people collecting the signatures are doing something wrong contact the board of elections.

By Barry

August 13, 2008 12:39 PM | Link to this

Considering the amount of money that the government takes from every paycheck they have no right to complain about an industry charging “to much interest”. The interest rate is less then the rate for an over draft on a checking account. I intend to vote against big brother/big government controlling my life.
If you think the people collecting signatures to put the issue on the ballot are doing something wrong then you should get ahold of the board of elections or the sheriff.

By Miss Bossy

August 13, 2008 12:35 PM | Link to this

They need to shut all those dang places down, there bad news!! Do with what you got!!

By Same Scheme, New Day

August 13, 2008 12:35 PM | Link to this

It’s like when the tobacco companies tried to get an amendment passed that would override the smoking ban and ran deliberately confusing commercials about it… or the petitioner at Spassnacht at the Fraze who first asked me where I stood on the casino issue, then told me he was on my side - I should sign the petition for the casino so that the casinos waste their money trying to get it on the ballet, see… if they have to lie about it, it’s worth voting against.

By Gregory Yoder

August 13, 2008 10:53 AM | Link to this

I ran into these creeps when I was registering voters for Obama. They were being aggressive and rude. If they thought that you looked like a Democrat they told people they were Democrats. If you looked like a Republican that’s what they were. Paid petition circulators never tell the truth.

By Clevo

August 13, 2008 10:44 AM | Link to this

They got me too I believe. A Payday petitioner came up to me at the gas station and gave me a bogus story to what she wanted me to sign and then had the nerve to ask me for money to get something to drink. That’s when I wanted to look at the petition closely to make sure it was for the purpose she said it was for. I just said forget it an got the hell away. Now I see this is not what she tolled me.

By Edy Lynn

August 13, 2008 10:22 AM | Link to this

The payday lenders supply a need that helps out those who have no rich family or don’t know a loan shark to borrow a couple hundred bucks if needed. I’m tired of the government telling me how and what I can waste my hard earned money on. They want it all in their pocket and I have nothing to show for it. Vote to keep the payday lenders opened! What will they take next? It scares me!!

By Big G.

August 13, 2008 10:12 AM | Link to this

what these businesses do is wrong, but then again, people should learn to live within their means, period! these people want to go borrow money from 4 or 5 different of these companies, and then can’t pay it all back, and then complain that they can’t afford to. who’s the wrong ones here? BOTH SIDES!!!

By Bill

August 13, 2008 9:58 AM | Link to this

Everyone is missing the point here. Does everyone read all the terms and conditions of every contract and understand them? The point is that it is illegal to falsify petitions for an issue. You can not say something false to get someone to sign a petition or pay them to sign one. These people have quotas and are paid to get them so they are violating the law to do it.

By chad

August 13, 2008 9:39 AM | Link to this

It is the person getting the loan’s resposibility to know the terms. This is another example of the government trying to take away more rights.

By chad

August 13, 2008 9:39 AM | Link to this

It is the person getting the loan’s resposibility to know the terms. This is another example of the government trying to take away more rights.

By paydaysucks

August 13, 2008 9:21 AM | Link to this

Two points, One, these people who lend this money are crooks and should be thrown in jail but on the other hand KNOW THE TERMS OF ANY LOAN BEFORE YOU TAKE THE MONEY!. I agree with this law and will be voting in favor of the 28 percent cap.