When did loansharking become legal in the US?

[Teddy B 17,252]

And I am sure the default rate is astronomical...

However, the math is absolutely brilliant!

You need $500, so you make a loan for $850 and pays it off in $ 150 installments for 12 months!

In the end, you borrowed $500 and paid back $1,800.

In the end it's not much worse than bowwowing $850 on a credit card and paying $35 a month for 6 years. The credit card companies just don't bleed you as fast.

[JohnR! 5,495]

In the end it's not much worse than bowwowing $850 on a credit card and paying $35 a month for 6 years. The credit card companies just don't bleed you as fast.

True...

[X Factor 1,112]

And I am sure the default rate is astronomical...

However, the math is absolutely brilliant!

You need $500, so you make a loan for $850 and pays it off in $ 150 installments for 12 months!

In the end, you borrowed $500 and paid back $1,800.

That is why Einstein once said that the most powerful force in the universe is compound interest

[Teddy B 17,252]

In the end it's not much worse than bowwowing $850 on a credit card and paying $35 a month for 6 years. The credit card companies just don't bleed you as fast.

Why am I typing in dog speak?

[Ban Hammer 13,399]

And I am sure the default rate is astronomical...

However, the math is absolutely brilliant!

You need $500, so you make a loan for $850 and pays it off in $ 150 installments for 12 months!

In the end, you borrowed $500 and paid back $1,800.

it's almost like congress came up with this idea.

[X Factor 1,112]

And I am sure the default rate is astronomical...

However, the math is absolutely brilliant!

You need $500, so you make a loan for $850 and pays it off in $ 150 installments for 12 months!

In the end, you borrowed $500 and paid back $1,800.

Since they make so much money on interest they can affort to send credit card applications to many including people's pets. Yes it has happened.

[JohnR! 5,495]

it's almost like congress came up with this idea.

Too true. You know what they say. Deficits don't matter!!!!

[X Factor 1,112]

Too true. You know what they say. Deficits don't matter!!!!

- what's a few trillion dollars over budget