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Of course the option is to not extend them credit at all so they avoid these Faustian deals. Of course, denying poor people access to credit is going to be pol
by hnal943 12y ago
Of course the option is to not extend them credit at all so they avoid these Faustian deals. Of course, denying poor people access to credit is going to be politically unpopular.
- jaynos 12y agoNot to mention, bad for the bottom line.
- smtddr 12y agoAnd a financial disaster for CC companies because, let's face it, the whole credit system is significantly supported by exploitation of less fortunate people. If situations like this article describes didn't happen CC companies would be missing a lot of profit.
- TheOtherHobbes 12y ago>Of course, denying poor people access to credit is going to be politically unpopular. The real problem is that denying poor people decent wages has been popular for too long - which is why they're poor. You can't run a sane, stable society by economically disenfranchising most of the population.