Idots, Idiots, Everywhere...
- PUBLICATION: Paydayfacts.org - Home » Blogs » pdfadmin's blog
- DATE: Thursday, July 10, 2008
The worst part about the Internet is that ignorant people who take no responsibility for the integrity of their journalism can post whatever they want and more ignorant people accept it as gospel. Talk about an endless cycle...
It seems that at the staff of "The Daily Press," they take pride in their position at the top of the waterfall of ignorance, for they blatantly and unapologetically misrepresented the Payday Loan industry in this article, without as much as a shred of fact.
They actually seem to believe that, "overdraft protection on a bank account" is a "cheaper option." Hmm... let's do the math on this one, I know it takes about a third-grade education to understand it, but here goes... If you overdraft $100 (or anything less, for that matter), you will pay from $24 to $35. If you take out a $100 payday loan, it costs $15 to $22. $22 is less than $35... remember?
They also warn their audience that "Some of these costs [involved in payday loans] can be hard to understand." How hard is it to understand?? You borrow $100, you pay back $122. I guess that if it's that difficult of a task to do research before you write an article, it's probably "hard to understand."
Finally, the author passes on his advice that consumers should, "Get a copy of the loan agreement and take it home, read and understand it before signing." I guess you should practice what you preach, bud, because if you even stepped one foot into a Payday Lending establishment, you would have some facts and not appear to be a complete ignoramus.