One week Senator Dodd is raised more than $44,000 from pawnshop owners and payday lenders. The next week, he joins Senator Durbin on the “holier than thou” bandwagon and supports a bill that’s trying to cap rates at 36% across the board.
This does not make any sense. I can see two scenarios:
- It’s a PR bill for both of them and has no chance of passing. They could milk this for years.
- He let the NY Times and Huffington Post bully him.
Comments
2 responses to “The WTF news of the day”
Perhaps he considers a mere $44,000 insulting and seeks revenge – or more likely institutions with deeper pockets donated have donated more to him, in other words banks and credit unions who find it's cheaper to outlaw their competition than out-compete. Or, maybe he just like to see his name in the news.
The bill has no chance of passing.