Reminds me of the guy being interviewed after he won the 100m lottery. The reporter asked "What are you going to do with all that money?" He said, "I'm going to the track".
LOL! how can this be legal? the poor sob will pay over 21k on a 5k loan! they gotta be using some loophole for these rates. surf
Apparently it's legal, but unscrupulous...like charging people $200/option in commission. Eventually, they get shut down for some reason or another. What's funny is that it's all there in the documents, in extremely fine print (that's a 3 font size)..
In some states they do not operate in...you know why? it is because of existing court cases that have set a precedence...some states have indirectly established a legal rate through historical arbitration...court decisions...or out and out legislation...free enterprise and capitalism have their limits... http://dictionary.reference.com/search?r=2&q=usury u·su·ry /ˈyuʒəri/ Pronunciation Key - Show Spelled Pronunciation[yoo-zhuh-ree] Pronunciation Key - Show IPA Pronunciation ânoun, plural -ries. 1. the lending or practice of lending money at an exorbitant interest. 2. an exorbitant amount or rate of interest, esp. in excess of the legal rate. 3. Obsolete. interest paid for the use of money.
I was not aware that the mob was allowed to provide loans openly and legally. It sure looks like one of the enterprises Tony S. would be involved in.