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IMHO they are the title/payday loan operators of the web, like their real world counterparts they prey on the poor.
by DamnYuppie 5y ago
IMHO they are the title/payday loan operators of the web, like their real world counterparts they prey on the poor.
- tyrfing 5y agoUnlike those real-world counterparts, they don't make money. Also unlike the real-world ones, they're making loans so risky that they're apparently having issues selling even the highest-rated ABS tranches right now.
- yjftsjthsd-h 5y ago> Unlike those real-world counterparts, they don't make money. What? How are they in business, then? Is this just the reverse side of "the market can stay irrational longer than you can stay solvent"? (I'd assumed they ended up being profitable off of people not paying things off in the 0% time)