probinson
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- Aug 16, 2005
- 22,326
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As a general principle, I am opposed to the idea of the "nanny state" that would limit free enterprise transactions between a willing borrower and a willing lender. The remoteness of the governing entity to the particulars would cause a "broad brush" approach effecting more damage than good imo.
I mostly agree with this. Usually when the government gets involved, things get worse.
However, I am somewhat torn. Predatory lending is a very real thing. In either taking advantage of people's ignorance or desperation, many people find themselves drowning in a pool of debt from which there is no escape.
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