In the past few days I have been seeing a certain commercial for money lending. While most of these are an obvious rip-off, scam, Shylock, whatever term you wish they are scum. Predatory scum. I had seen the late thespian Gary Coleman in a television commercial that was, what seemed to me, geared toward black people that are having serious money problems. Let's face it, lately who isn't having money problems? Or who hasn't seen thier net worth completely befucked?
HOWEVER: After all this shit with with bailing out banks, executive bonuses,etc., etc., you would think that blatant predatory lending practices would subside or at least try to lay low, blend into the woodwork at it were. But hell "fuggin A" no. The Gary Coleman commercial was offering around two grand for 99.8% interest. In his best homeboy, down wid' it, shtick 'ole Gar was really offering some serious shit, in the literal sense, to his peers. Or, of course, that is what these money lenders wanted to portray.
Now I thought that was pretty damned disgusting. I actually had to rewind the broadcast a few times to read the fine print because I just could not believe what I was seeing. That Gary Coleman was used (used hell - he got paid) trying to sell shit loans to his own minority group is as revolting as it gets.
I do understand desperation folks, don't get me wrong. I do have some fathom of sympathy for an old child actor (how's that for an oxymoron?).
BUT: This new, latest piece of pure dog shit I have seen twice so far on daytime TV was geared towards Native Americans. Indians for those of you whom do not toil in data processing. The advertisement showed what appeared to be a native American man, olive skin, long straight dark hair, everything but the the feathers and a teardrop (if you get the teardrop reference you get extra credit). Pure stereotype of the most vicious type. They showed this fuck stick's name as Thomas Morgan. What no "Running Wolf " or "Sitting Bull's grandson"? Where are your stereotype balls you whores? Anyways they were touting money for lend. At a rate of 138.98%!!!
Now that is BALLS! Full out all American BALLS !!
At one point in my life I was introduced to the term "Usury" (I have no memory of "when" or "how" on a whole bunch of subjects!) anyways usury was a crime synonymous with shy locking, or lending money at an inflated rate. Usually this was a favorite crime, oh yes it was a serious felony, of the Mafia. You end up owing them money through loans or gambling, drug debts, what have you until they really have you by the balls. They also charge penalties for late or missed payments. This has been referred to as a "Vig" which was added on to the principal - nothing you can't learn from watching "The Sopranos".
Of course the legal usury "cutoff" percentage was about 25%. So, anything charged interest at a rate above 25% was a felony. I really don't know why or when the laws have changed. I could do an hour of research, but so can any body reading this if you care about specifics.
The highest interest rate I have ever witnessed, 138.98%, for the minority group in this country that has the lowest education level ratings, lowest annual income, and, in some minds social status. Let's not even insult them by making casino comments. I don't know but if I had to venture a guess I wouldn't bet on actual Native Americans being the sole profiteers from legalized gambling.
How did we get from throwing people in jail for usury to letting insanity rule the interest rates charged. This is the definition of predatory lending at it's brightest and at the same time so, so dark. The commercial has this "Thomas Morgan" stating that "Sure it's not cheap, but it's better than a payday loan.". Who out there knows off hand what he means exactly by a "Payday Loan"! If it's worse than 138.98% you must be pretty fucking desperate.
And desperate times call for desperate measures.
This was more to me than just another sad commentary on some of the bullshit we have to put up with as Americans. This is the type of shit that spreads disillusionment, mistrust, and paranoia, needless paranoia on how our government is being run, who is pulling these strings, manipulating legislation and who the real profiteers are here.
Our collective Native American heritage, and I mean everyone that was born here is a native American, should be more important in our collective ethos. From predatory lending to endless strip malls I really think we as a nation would feel more pride in ourselves and our country if we cherished it the way the people that were always here did. And still do.
Happy Independence Day, folks. Now let's show our love for our country by blowing a small piece of it to smithereens!
Originally posted Thursday July 1st, 2010
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