Even Bank of America Gets Foreclosed On, But Who Needs Foreclosure Relief, Right?

Pay Day Loans Come at a High Price

by Joanna

I am sure everyone has seen advertisements for "pay day loans". They are advertised as being available to anyone who has a bank account and a source of income, regardless of credit. They are touted as the solution for making ends meet when you come up just a little bit short on paying your bills.

Of course, those ads never mention that pay day loan companies KNOW that they can prey on the poor and get them caught up in a never ending cycle, in which they are forced to take out loan after loan at exorbitant interest rates.

Pay day loan companies often specifically target the elderly and disabled, individuals who rely on Social Security benefits. These loan companies know that this is a very lucrative market for their loans. After all, an individual on Social Security has a guaranteed source of income, so the loan company knows they will be able to receive some sort of payment. AND, the income of people on social security is low enough that they are often forced to take out multiple loans, one after another.

But some industry critics say fixed-income borrowers are not only more reliable, they are also more lucrative. Often elderly or disabled, they are typically dependent on smaller fixed incomes and are rarely able to pay off their loans quickly. "It's not like they can work more hours," says David Rothstein, an analyst at Policy Matters Ohio, an economic research group in Cleveland. "They're trapped."

Source

Same pay day loan companies convince the elderly and disabled people who take out a loan to turn over their social security benefits to the company, and then provide them with a small allowance from each check. They specifically target individuals who are under educated, elderly, perhaps confused, and convince them that a small loan is the solution to their problems.

Baltimore woman loses her home in foreclosure, due to a $362 water bill

Here's yet more evidence of how people of color are suffering due to the mortgage meltdown crisis. The following story is depressing as hell, but should not be ignored:


Yet and still, there is no moratorium on foreclusure evictions by the Federal government. Of course her story is out of the prdinary. But could you imagine how many stories like this we never hear about? Especially in our current economic state, where people of color are disproportionately affected? But still, nothing is done to directly assist the hundreds of thousands of people in the country who's hopes and dreams are washed away by the economic tsunami.

I recognize that this is a matter that should be rectified by city and state officials. But I can't help but to think that there is something the Federal Government can do, besides investigating the Federal Reserve (and other financial institutions) for their culpability in the mortgage meltdown crisis. While doing the dog and pony show for the media, people are being tossed out onto the streets.

Montel Williams Endorses Money Mutual Payday Loans

First we had Russell Simons endorsing the Rush Card and now we have Montel Williams endorsing payday loans.  Are we ever going to arrive at the day when Black celebrities decide that it is not okay to promote these predatory business models to vulnerable members of society?

According to the MoneyMutual website:

Montel Williams has endorsed MoneyMutual because it provides needed short term cash loans to people who have no other credit alternatives. Montel takes pride in being able to provide people with information which could help them to live better physically, spiritually, financially, and emotionally. When it comes to financial assistance, Montel understands that people will find unexpected and needed expenses from time to time that are difficult to pay for due to lack of funds or credit. Rather than bounce a check, or receive late payment penalties, Montel believes that a short term cash loan from MoneyMutual can provide the necessary immediate assistance and help avoid more costly fees. According to Williams, "MoneyMutual's online lending network is the only source you can trust for finding a short term cash loan quickly and easily." MoneyMutual allows people to receive instant approval on getting a cash loan of up to $1,000. Restrictions do apply. See Moneymutual.com for details.

Black blogs continually speak about the racism that we face, but what happens when the face of the oppressor is brown like yours?   Montel exists with extreme class privilege and he will never have to access the very loans that he is busy peddling to an unsuspecting public.

Too Big to Fail: Welfare by Another Name

Yep, what's the deal with this "Too Big to Fail" doctrine? Yeah, why is the Obama administration intent on feeding these bankers more pizza? Uh-huh, if you haven't figured it out, and just in case you thought the pic above to be sexist as it takes shots at "big girls" (a term embraced by overweight women I might add), you're dead ass wrong. Instead the picture metaphorically represents our banking industry. And when you think about Obama's retention of Timothy Geitner, one has to wonder if the game is rigged considering just who his old boss was. Here's a hint: his last name rhymes with "Push". But don't get it confused, even so, there are Republicans against this legislation.

Yes indeed, when you look at what's happened in our financial industry over the last year one can only conclude that the pen is indeed mightier than the sword. But hey, when you're that powerful who needs transparency, right? Yeah, just keep on shoving our hard earned money by way of tax dollars well baked pizza down their throats as they continue to get fat from the fruits of our labor. The man on the street may be disgusted by this as he sees it, but even so, he doesn't realize that this has been the design from day one.

[READ: Usury: A Short History of Banking]

Yeah, pretty soon "Too Big to Fail" is gonna transform into "Too Legit to Quit" and I'm sure somewhere a washed up "I used to have money" rapper will be happy like a Nigerian scam artists who just cashed a check. The sad thing about that is the fact that it is us the American tax payers who were, and are being scammed. Only difference is that we have not fallen victim to some dude in Africa with an internet access. So yeah, I'm down with proposed legislation giving the government the power to dismantle mammoth financial firms preventing future bailouts of these presumed "Too Big to Fail" financial institutions.

As usual, Republicans are against this proposed legislation. Yep, they scream all day long about runaway spending and denigrate the names and lives of poor people and reference the lady in the pic above as a "Welfare Queen", all the while in full support of "Corporate Welfare"  as they continue screw us with no Vaseline.

I'll stop for now, and maybe pick this up at a later date.

In the mean time, check me out in a recent interview....

In the interview I disclose some intimate and personal info about myself.

[Click here for interview]

Masturbation: Just What the Economy Needs

So I'm looking in the classified ads in the newspaper for a job. I figure maybe if I do it old school instead of Careerbuilder and Monster maybe I'll see something different that's not listed online. Hey, you gotta exhaust all your avenues right? So as I'm looking at the ads, I noticed an ad for the donation of blood. Great! As bad enough as it is that I'm broke and looking for a second job, some asshole at the blood bank felt the need to remind me just how broke I am. But you know what? The ad got my wheels turning and hence this blog.

Before I go on lemme be clear: I've never given blood in my life, and this is not an attempt to get you to do it or speak out against it. Ok? So anyway, I've never given blood in my life before. Come to think of it, I don't even know my blood type. That's sad ain't it? I'm a grown ass man who's been admitted to the hospital on more than one occasion, and hell even had surgery but I don't know my own freakin blood type?!! That right there I think should be a prerequisite for donating blood. I mean, what if my blood type is the rare kind? I mean if it were, shouldn't it mean I get compensated properly? Shit, if my shit is rare I should definitely be compensated more than the standard $20 or $40, right?

But see therein lies the problem. The blood banks have been running low for quite some time now. You always hear the Red Cross come out saying that they're running low. Well, maybe if they paid people more they'd have all the blood they need. Chances are they'd be turning people away, right? Probably not. I say that because I'm sure with as many unemployed people as we have today, many of them are donating blood just for weekly gas money. Trust me, I know a few people who are doing that right now. Matter of fact, I could remember a couple dudes who worked for me in the past who gave blood twice a week just to have extra money when the economy was great. I never understood why because they were living at home with their parents and they made pretty good money. Later I found out that they were stoners who stayed high all the time. I kinda thought that just from looking at them, but you know me, I don't stereotype people like that.

But anyway...

Having to donate blood because you're broke, is, and has to be a very depressing thing especially when you're unemployed. Just the thought of standing in line has to make you feel like a hooker in the back alley putting random penises in the mouth for $20. Yup, it has to be that low of a feeling. But it doesn't have to be that way. You know why? Because they can do a two for one deal. That's right, they can make it a double feature. They should incorporate sperm donation at all blood donation centers, or regular banks for that matter. Sure you might feel depressed having to give blood for money just to eat. But I'm sure getting paid to jerk off cancels that out.

I don't know about any of the men reading this, but when was the last time you got paid to have an orgasm? Probably never? Exactly! Hell I'm pretty sure a few of you have paid another person (i.e. the back alley random penis in mouth inserter) to have one. See what I mean? Thats the reason they need to do this quickly. Not only would it save lives, and there'll never be a blood shortage, it would also stimulate the economy among other things. There will be a surplus of sperm for all the women in this country who would like to have 14 kids through invetro without having a husband like that part woman part meerkat out in California a couple months ago.

Yeah sucks to be her right? Single mom with 14 kids and no husband? But look at it this way: The sperm donors won't have to worry about child support, and they can be proud to be called sperm donors other then being referenced as such for being dead beat dads. All in all, there's nothing like having money in your pocket after having a happy ending; well, that's unless you wake up after a night of promiscuous drunken sex to find that your wallet is stolen. Trust me, that's never happened to me before, but I've heard or know of a few guys to whom this has once been a problem.

I mean, I've read where women are now having to resort to stripping for an income in this fucked up economy. That said, why not g'head and make all banks like the spot for one stop shopping? That's right, we should be able to go to the bank, donate blood, cash checks, deposit money, and swipe a dollar or two in the crack of some woman's ass - or man if you swing that way - surely, this would have everybody happy, no? I mean seriously, if somebody thought of this before now, there would be no need for bailouts or even the purchase of toxic assets.

P.S. Here are a couple posts you should visit for a good laugh:

Black Folks Don't Swim! - Negroes Get on my Gawt D@mned Nerves!

Witches' Brew - Manic Masturbation and the Single Black Male

Three Ways to Take It - A Seattle PSA: Please Trim Your Hedges

Should you visit, do leave a comment and be sure to let them know that RiPPa sent you.

Have a good weekend folks.