Saturday, February 25, 2006

Predatory Loan Business Uses Lovable Mascot Suit To Give Exploitation Of The Poor A "Soft Side"

In Portland, Oregon, a chain of predatory payday loan businesses are using a lovable kangaroo costumed mascot to present a "soft image" to the ugly business of exploiting the poor.

Oregon is becoming dotted with predatory loan businesses as Oregon's legislature is loaded with lawmakers who routinely accept campaign donations from the predatory loan lobby. Frank Shields, a Christian minister who is a Democratic member of the state legislature has had no luck at controlling interest rates for car title loans that can soar to as much as 300-500% annual interest rates. Along with the big tobacco lobby, the predatory loan lobby is one of Oregon's most agressive lobbyies.

In Portland, the City Council and Mayor's office recently found themselves greatly limited in restricting these predatory loan businesses as Oregon lawmakers actually prevented cities from limiting the interest rates of predatory businesses in order to protect this loan shark industry that exploits the poor. Only some disclosure and 24 hour opt-out rules could be enforced against this industry by the City Of Portland, as any meaningful attempts to force this industry not to victimize the poor were protected by mainly conserative Republican Oregon lawmakers.

During the 2004 Republican National Convention, a magnate who owns a huge chain of payday loan businesses, and who has donated $1 million to various Republican Party candidates and organizations, was treated like royality in New York, and brought by charter to Cartier Diamonds to pick out a jewelry gift in recognition of all the money he donated to the party from the blood of the poor.

This is part of the daily class warfare that the poor face as businesses such as predatory loan businesses are protected by wealthy politicians who constantly seek campaign donations from shady lobby and donation sources in order to stay in office. Without any moral backbone, or sense of right or wrong, evil like this will likely continue until the level of shame can be raised for any politician for contributing to this grinding of the poor.

Not even a lovable kangaroo mascot suit can do much to hide this face of outright evil.


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