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HomeProsecutions of Financial Frauds at 20 Year Low
Posted by Larry Doyle on November 30th, 2011 5:02 PM |
I am not surprised to learn that financial frauds are being prosecuted at a rate which puts them at a 20-year low.
When the “truth is confined to secretive, fearful whispers” as I highlighted in my commentary the other day, then those who profit from the accompanying lack of transparency and integrity will swing for the fences. In fact, that is exactly what the financial services industry did for a protracted period. They are fighting tooth and nail to maintain that status quo.
The lax regulatory environment and ineffective legal maneuverings are a reflection of efforts — or lack thereof — that originated and grew during both Democratic and Republican regimes. (more…)
Car Title Loans: “There to Rip You Off”
Posted by Larry Doyle on July 18th, 2011 9:10 AM |
What is your mental image of a business which earns a 300% annualized rate of interest?
Did somebody say, “shady characters hanging out on a street corner with a large wad of bills”?
Who said, “guys driving around in cars with dark tinted windows”?
How about, “typical loan sharks”? Perhaps all of the above?
Is there a legitimate business in our nation today which might be able to charge a 300% annualized rate of interest? Well, I guess that would depend on how one defines legitimate. I think it would be safe to say that if you are doing business with somebody who charges a 300% annualized rate of interest, you would want to be VERY CAREFUL. What type of business has got these kind of rates? (more…)
