A nonprofit I’ve supported for many years has been working on payday lending. It has become a big issue nationwide – the Bush administration capped payday loans to military families at 36% APR and many states have followed. An obvious thought is, if it’s such a lucrative business then why can’t a more socially motivated [...]
Archive for the ‘Causes of Poverty’ Category
To bank or not to bank….
Posted in Capital Thoughts, Causes of Poverty on June 2, 2010 | Leave a Comment »
Does interest cause poverty?
Posted in Along the Way, Causes of Poverty on June 7, 2009 | 1 Comment »
Earlier this year I listened to a really interesting This American Life episode (from May 2008) on “the giant pool of money”. It seeks to understand the sources of the mortgage meltdown. My takeaway from that episode is: there was more money looking for secure income-generating investments than there were high-quality income-generating investments, of which mortgage-backed [...]
