Monday, March 9, 2015

Does "Everybody" Truly Support Laws Against "Predatory" Lending? (Letter to the Editor)

Subject: Does "Everybody" Truly Support Laws Against "Predatory" Lending?
Date: Thu, 05 Mar 2015 22:33:50 -0700
From: Mike Blessing
To: Albuquerque Journal

Ms. Nathalie Martin recently wrote in a guest column titled "Remember who votes against cap on loan interest rates" that

"The bottom line is that everybody favors the cap, except the legislators who have lined their pockets with industry funds."

I for one do not favor the proposed cap, as it pushes those who can't qualify for loans from businesses that meet with Ms. Martin's approval to the extra-legal market -- the gangs, Mafia remnants and such.

I submit that losing a car title for nonpayment is much less stressful than having your fingers or leg broken. But maybe that's just me?

Still, I don't remember being directly polled on this issue in any way, shape or form, so I have to ask -- what sort of polling did Ms. Martin undertake?

To which polling firm was this contracted out?

What was the sample size? What was the demographic breakdown of the respondents? What was the poll format -- telephone, direct mail, via the web, or face-to-face?

Another loaded line from the article:

"One-thousand percent interest loans hurt New Mexicans, and we unquestionably need to destroy these high-cost lenders before they destroy us."

One easy way to avoid being "destroyed" by high-interest lenders is to simply not do business with them. I've gotten offers through the mail from such outfits in the past, and never been close to being "destroyed" -- I simply put the mailings into the shredder.


Who owns you? Who runs your life? Who should -- you or someone else?
Freedom is the answer -- what's the question?

"Government is the disease that masquerades as its own cure."
-- Robert LeFevre

"If you wanna live long on your own terms
You gotta be willing to crash and burn"
-- Motley Crue, "Primal Scream"


Copyright © 2015 Libertarian Party of New Mexico and Mike Blessing. All rights reserved.
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