4 ms·
Payday lenders fill this gap. Everyone hates them as well. Everyone hates student loans and they fill a different gap. Basically, people hate people who lend
by godzillabrennus 7y ago
Payday lenders fill this gap.
Everyone hates them as well.
Everyone hates student loans and they fill a different gap.
Basically, people hate people who lend money.
- ForHackernews 7y agoThere's a reason usury was historically a serious sin.
- throw_m239339 7y agoIt was in fact punishable by death in Christian countries. In theory it's also still a sin in Islam. That's why most of the first bankers… were not Christians or Muslims if I can put it that way.
- spicymaki 7y agoYes and usury is why we have an economic crisis every ten years. The magnitude of the crisis seems to be increasing each time.
- lotsofpulp 7y agoIs this specific Mar 2020 onward economic crisis being caused by usury?
- TeMPOraL 7y ago> Payday lenders fill this gap. Everyone hates them as well. That's because they offer a very dangerous financial tool, and at the same time they work hard to put this tool in hands of people who can't handle it safely. In this way, they make money off destroying people. > Everyone hates student loans and they fill a different gap. The problem with student loans is on the higher level in the system; their existence causes runaway cost increase of higher education.
- smcl 7y ago> The problem with student loans is on the higher level in the system; their existence causes runaway cost increase of higher education. If the loan is meant to pay for tuition then perhaps that's true. My loan was something like £1600/yr which covered about 5 months of rent, but the government paid for my tuition.
- TeMPOraL 7y agoYeah, I assumed the GP meant the American-style student loans that you need for your tuition, not the kind that exist in countries with public higher education, where you use them for e.g. rent or textbooks or hardware.