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	<title>Gorilla&#039;s Blog &#187; payday lenders</title>
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		<title>Protecting America&#8217;s Loan Sharks</title>
		<link>http://www.gorillameek.com/pages/blog/2010/03/10/protecting-americas-loan-sharks/</link>
		<comments>http://www.gorillameek.com/pages/blog/2010/03/10/protecting-americas-loan-sharks/#comments</comments>
		<pubDate>Wed, 10 Mar 2010 12:52:56 +0000</pubDate>
		<dc:creator>gorillameek</dc:creator>
				<category><![CDATA[Gorilla Meek]]></category>
		<category><![CDATA[payday lenders]]></category>
		<category><![CDATA[Senator Bob Corker]]></category>

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		<description><![CDATA[Senator Bob Corker wants to exempt payday loan outfits from the financial services &#8220;reform&#8221; legislation currently going nowhere in the US Congress. This is primarily because the payday boys have contributed handsomely to the Senator&#8217;s campaign, but of course that&#8217;s not bribery, it&#8217;s just a way of expressing admiration. America&#8217;s loan sharks no longer operate [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.nytimes.com/2010/03/10/business/10regulate.html">Senator Bob Corker wants to exempt payday loan outfits</a> from the financial services &#8220;reform&#8221; legislation currently going nowhere in the US Congress.</p>
<p>This is primarily because the payday boys have contributed handsomely to the Senator&#8217;s campaign, but of course that&#8217;s not bribery, it&#8217;s just a way of expressing admiration.</p>
<p>America&#8217;s loan sharks no longer operate in back alley offices with enforcers on the payroll. They&#8217;re out in the open, happily fleecing the poorest Americans while our leaders get rich on their takings. </p>
<p>Here&#8217;s their pitch to be exempt: On Monday, the nation’s largest payday lender, Advance America of Spartanburg, S.C., said in a filing to the Securities and Exchange Commission that <strong>“any federal law that would impose a national 36 percent A.P.R. limit on our services, if enacted, would likely eliminate our ability to continue our current operations.” </strong></p>
<p>Gorilla thinks: &#8220;The mafia has set up shop in Tennessee! Now that&#8217;s a corker!&#8221; </p>
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