payday lenders

"Today’s loan sharks wear expensive suits and work on Wall Street, where they make hundreds of millions of dollars in total compensation by charging sky-high fees and usurious interest rates."-Bernie Sanders and Alexandria Ocasio Cortez

Last cycle payday lenders only handed out $1,302,189 to congressional candidates, mostly to incumbents. And mostly to Republicans ($1,054,081). The biggest players were Harpeth Financial Services, Advance America Cash Advance Centers, Advance Financial, Online Lenders Alliance, Select Management Resources and Moneytree, Inc. Since 1990 Payday lenders have contributed $11,754,614 to men and women running for Congress-- $4,214,274 to Democrats and $7,505,887 to Republicans.

Ever notice that corrupt conservatives always seem to support payday lender schemes while progressives fight against them? As soon as Trump appointed Mick Mulvaney acting head of the CFPB-- the Consumer Financial Protection Bureau-- one of his first moves was to stop protecting consumers from predators in the payday lending world.

When Trump voters went to the polls, how many of them were voting to end the rules to keep blood-sucking payday lenders from ripping them off? Probably not many-- but that's what they're getting. As you know, Trump appointed OMB director Mick Mulvaney acting head of the CFPB-- the Consumer Financial Protection Bureau.

CO-06 forms a large "U" around the southern, eastern and northern suburbs of Denver. Serial DCCC incompetence has kept it in a weird status as a blue district with a Republican congressman. Obama won the district against McCain 54-45% and against Romney 52-47%. Last year, Hillary won the district 50.2% to 41.3%. Meanwhile the DCCC has managed to screw up every congressional race since Coffman was first elected in 2008.

Congress has written the bribery laws in such a way as to exclude their own habitual behavior of taking corporate bribes. There are many examples but one that always stands out is how members of congress relate to the predatory payday lenders whose business model is ripping off the public Congress is supposed to be protecting.

In his opposition to payday lenders, FL-23 progressive Tim Canova, the law professor taking on the odious Debbie Wasserman Schultz, has been saying that It is immoral to support an industry that makes money by targeting poor communities.

Patrick McHenry got into Congress just as DWT was getting started in 2005-- and we've watched for over decade as he built a career based on blatant and unaccountable corruption, using his position on the House Financial Services Committee to raise $3,717,511 from the Finance Sector he's supposed to be protecting the public from.

The above is an e-mail I got yesterday from Ohio Senator Sherrod Brown. I agree with every word of it. Shred is usually right about domestic policy. He's been a dependable leader on fair trade for as long as I can remember him in Congress. And he's one of the best in Congress on reining in Wall Street's predatory excesses.

Ahoy, Matey-- Patrick's gold-trimmed pirate hat courtesy of Bergdorf GoodmanSo how does this upbringing and this lifestyle manifest itself in the day to day life of a startlingly unqualified congressman who bought a House seat and now, with the help of a thoroughly corrupted and rotted out Democratic Establishment, thinks he is entitled to buy himself