On the Defense of Parasitic Finance

[Justin Schwartz]

Just thought I'd mention a case I drafted for my judge, Van Jackson v. Check 
N Go (N.D. Ill. 2000) sticking a payday lender (500+% per annum interest) 
with a $50m judgment for violating a federal credit disclosure statute. 
We'll see if the 7th Cir. affirms, but I thought it was slam dunk. --jks


>DH:
>Finance doesn't really neglect the poor, either. Most poor
>neighborhoods are filled with check cashing joints, payday loan
>houses, and rent-to-own schemers.
>
>mbs:  Oy.  This sort of non-neglect bespeaks the
>need for vast improvement.
>
>Aren't alot of those check cashing joints owned by big Wall St. concerns? I
>think this book from Common Courage Press goes into this. Merchants of
>Misery
>How Corporate America Profits from Poverty
>
>Edited by Michael Hudson
>Introduction by Rep. Maxine Waters
>
>Michael Pugliese
>P.S. Doug, think your friend Bob Fitch might have some thoughts on this
>thread? I remember in the early 70's in Socialist Revolution a debate
>between Fitch, Oppenheimer, Jim O'Connor and Paul Sweezy on Bank Control of
>U.S. Corps.
>
>
>

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