Here, courtesy of DemocracyNow.org, it the written text of Bill Moyers' plenary speech during the Nation Conference for Media Reform. Where is the movement headed? Read this part of Moyers' speech: SO I'M BACK WHERE I STARTED WITH YOU, AND WHERE THIS MOVEMENT IS HEADED. The greatest challenge to the…
Check this out, from Iraqslogger: The New York Times and Washington Post are stuffed with Iraq-focused reporting, analyses, and commentaries – 25 in all. Yet, amazingly, not a single one of those original stories comes from Iraq itself (in fairness, there’s a Baghdad-datelined AP report in the NYT). Why? With…
It's about time. As reported in the NYT: The House voted this evening to rescind $14 billion worth of tax breaks and subsidies for oil drillers and channel the money into a fund that would finance renewable energy projects and new technologies for conserving energy. Despite opposition from the oil…
Who is the God about whom each item on this list is allegedly true: He “was the biggest healer in Antiquity, even raising the dead. They called him Savior and Redeemer. He was born of a mortal virgin mother, but had a divine Father. He walked on water. He was not…
I’ve written before about how banking laws are for sale (some would say I’ve ranted before). In that post I discussed payday lending. I often hear that payday lending is not predatory and that such lenders must be offering a service, else why would people borrow money at 300%, 400%, 500% or even more?
I also hear people blame the victims of payday lending. Others say the borrowers are at fault for borrowing money at horrible interest rates. Even borrowers hold themselves at fault. When (if) they get out of the trap (and make no mistake, it is a trap with a cycle of borrowing the same money repeatedly, because the costs are so high people have great difficulty paying the debt without borrowing to do so) they still blame themselves for getting into it.
Many borrowers blame themselves for being stupid or taking the ‘easy way’ out. One person I know, when faced with the choice of becoming homeless or getting some money, said she thought the loan was an answer to prayer. “As I prayed for help,” she said, “an ad for payday loans came on tv. I thought God was answering my prayer.” Hundreds and hundreds of dollars later in interest, she thinks it was the devil.…