“Payday” lending has been big in the news lately. Payday lending is where you go to a licensed loan shark to borrow money at interest rates in the hundreds (450% is not unusual), generally give the shark a post dated check, and 2 weeks later, end up having to renew the loan so the shark doesn’t deposit the check and get you hit with bank charges for bounced checks. There are some interesting permutations, but I’ll save that for another time. In the meantime, this parody was just too good to pass up. Check out this opinion piece [1] by the publisher of a small Nevada newspaper.
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